Sounds to be a bit of over kill for a little old chain, But hey if works for you it must be a good thing. @ Work I use a DOT LINE laser alignment system for power transmission equipment. Mostly belt driven air handlers. You can get closer than you ever need to with this equipment. With your pen light system I'd just glue a couple magnet to it. "Make sure you keep the laser parallel to the sprocket that it’s mounted to. Then measure with a machinist rule the height of the beam @ the laser then the height of the beam @ each side of the sprocket and you should be closer than any chain needs to be. As for which end to start from I really don't think it matters that much. Also Id set up the laser so it can be done with the chain on.
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