How many miles on her?? Is the cam chain the original or was it replaced already?
If you have to be careful, if the cam chain is worn out and your tightening the chain just by sound, you run
the risk of either breaking the chain (cause its stretched too much), wearing out the bottom and upper cam sprockets very fast,(both sprockets are discontinued from Honda) or wearing out the sliders sooner than you think.
I've adjusted my cam chain with the engine idling at 1200rpm from a cold start, and applying light pressure down onto the cam chain adjuster bolt.
Worked very well
I did that and noticed some (very little) metallic rattling from the chain still. So I took the rocker cover off and noticed that the chain was tensioned properly, but the links have worn terribly!
Also, check with your tension on your cam chain that your cam does not role back and forth. That's an indication of a stretched chain or worn teeth on the sprockets.
Make sure your carbs are perfectly sync'd. An uneven carb sync will make the motor tick and rattle. It's very important!!
Your idea will work out just fine with a used or New chain, but be careful you don't tension the chain too much. Also, use a nylon washer like they use on 2-stroke oil pumps. They can withstand the temps!
Washers from hardware shops might not hold up to the high temps.
Hope this helps and keep riding