I believe you are correct that when the pedal is all the way down the Throttle arm should stop on the Full Load Stop Screw.
At least that is what the Tech would do when the Fuel Injection Pump is Calibrated.

As far as adjusting the linkage goes I would inspect the Bell Crank on the Fire Wall first to see if the Bushing or in my case it has Rubber on part of it that can go bad.
(In the manual there are a few different linkage set-ups.)


When I first got my Car my Linkage was sloppy and the car was slow. I had no manual so what I did was adjusted the end nearest the Throttle lever and I found there is a 10mm bolt on part of the linkage and where that bolt is there is a kidney slot so that you can change the adjustment.
Mine did not have room for more adjustment but there is an adjutment from the Accelerator Pedal to the Bell Crank on the Fire Wall.
When I did it I felt that by fooling with the ends I would not mess up any adjustments inbetween. However, my Cruise Control never did work so I do not know what the above adjustment would cause aproblem with it or not.

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84 300D, 82 Volvo 244Gl Diesel