This is kind of a hard one to discribe because I dont want to tell you its ok because of the possible problems if its not. I would start buy making sure the (two) dots one on each cam gear are lined up with the horizontal plane of the top head surface.

The cam gears are suseptable to movement because of the cam lobes are not all at TDC. So with the old tentioner out the gear may have rotated a little bit.
The tentioner has a spring that moves it out to the next step(new style) and that spring may not have enough tention on it to rotate the exh. cam back to its needed position.

The updated tentioner has step index's on the side of it to stop the tentioner from retracting when there is low or no oil presure.

So what I am getting at is that if the crank is still at TDC and the intake cam mark looks ok and the exh. cam is just a bit to far clockwise then you can just remove the tentioner cover cap and rotate the cam back and push the tentioner piston farther in. (WARNING ! JUST ENOUGH TO TAKE UP THE SLACK AND NO MORE)

I tried to make this as understandable as possible, but some times its a bit tricky not knowing another persons skill level. So if it doesn't make sense to you maybe see if others post or have some one that has a good knowlage of engine mechanicals give you some advice in person. This is not an area you want to have a problem in, but I think you already know that.

Good luck Jim..........and feel free to ask more this is a great forum with a lot of great members.

Dave..................