No, absolutely not correct. Unless you have the box off the car and the pitman arm removed any further adjustment is going to be inaccurate and blind.
With the box on the car the adjustment screw is the ONLY way to remove slack.
That "big nut" (sheet metal) on one end adjusts the torsional friction of the input shaft. If you are even able to adjust that on the car (I applaud you if you could even try) the complexity and precision required is impossible to get in situ. Most of the box needs to be diassembled to adjust that nut properly.
Source: I currently reseal and adjust boxes.
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