I re-greased and adjusted my chain yesterday, and decided to check the rear wheel alignment (whch I should have done before).
![Sad :(](./images/smilies/icon_sad.gif)
Using the strings from the rear wheel method, the rear wheel was cocked to the left showing up as almost an inch offset at the left string at the front wheel. I got the rear wheel all centered/lined up very carefully w. correct chain tension, then measured the distance from the inside swingarm surface to the rear wheel outer rim face
on both sides at several points. The readings were exactly the same on both sides, so the MZ 500's use a concentric swingarm, something I wasn't sure of before. So taking these swingarm-to-the-rim measurements is a good quick check to see if you're in the ballpark.