I have a Grizzly G0602, also a 10 x 22 lathe. The fixing bolt goes through the back plate and is fixed with a nut. I modified my belt tensioner so I don't have to use the adjustment slot. To release/tighten the tensioner, I loosen the nut and swing the pulley out of the way and then swing it back in place, applying proper tension for the belt as I tighten the nut. No fumbling and the process a few seconds. The modification is described here.
My Grizzly G0602 lathe is generally a pleasure to use. However, there is one particularly annoying shortcoming. The OEM idler is located in a diagonal slot above the belt and adjusting consists of loosening a nut on the back side of the bracket plate sliding the stud to an appropriate position...
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