Okay, I just made some adjustments, but it doesn't seem to make a lot of sense according to your description.
I'm not saying your wrong, I'm thinking I didn't do it correctly.
I warmed up the bike riding around, came back on a flat surface and propped the bike up vertically. I loosened the lock nut, took out the factory spacer, then attempted to make the adjustments (with engine running). The only thing I could hear when the bolt was screwed quite far in was a squealing noise. I tried loosening to the point that thought the bolt was ready to come out and I couldn't hear a thing. I was expecting to hear some sounds as everyone seems to say happens when the bolt is out.
I'm reading your description as saying that I should be hearing sounds with the bolt out, not in. Mine seems the opposite.
What's going on here?