Make sure the sprocket is on the left side of the chain. When the cam shaft is in the bearings, the chain should be riding where the sprocket is supposed to be. Set your crank at TDC 1.4 (under the points cover) and your cam shaft with the notch on the right end horizontal (aligned with the head's mating surface. You may notice the "Micky Mouse Ears" cut in the center of the sprocket. The mickey ear should allow the sprocket to get low enough to slip the cam chain over the top. It should also position the sprocket to align with a bolt hole.
As for the tensioners, yes, the front guide has an up/down orientation. The spring loaded "slipper" should be retracted all the way in and the lock nut tight to keep it there.