No, the recommended amount of slack (1") is to be measured with weight on the back wheel. Err on the side of too much slack rather than too tight as you can put stress on the countershaft that holds the front sprocket otherwise.
When you screw the adjusting nuts the axle will move back in the swingarm slots just fine with weight on the wheel.
Regarding the tightening of the main axle nut, I just use a regular 24mm ring spanner as they cant slip off. I wouldnt sweat too much over torque settings unless your tightening the bolts on your cylinder head!
I also put a mark on the top of the nut using a marker pen and then run that line over onto the nut washer plate so I can tell at a glance if the nut has loosened any.
Torque for this is rated at 65lbs, I think, which is certainly "ballparkable," but I would still recommend getting a torque wrench. They go on sale at Sears, etc., pretty frequently (even Harbor Freight wrenches are better than nothing). If you decide to do more maintenance yourself and find yourself having to tighten steel bolts into aluminum, you'll wish you had one.
rear stand [or jack etc] is best for all rear wheel maintenance..
adjusting chain included, even tho it can be done on sidestand..
testing alignment includes sighting along upper run of chain
from behind rear sprocket [like sighting along a rifle etc]
while turning the wheel.. misalignments manifest as bowing
or the chain, which can be detected visually..
this is important imo after, finishing alignment of marks or
measuring or however you do basic axle alignment,
including axle nut, when some unintentional movements
can be dialed into the final position..
free turning wheel is easier and better for lubing etc,
often done as part of chain alignment/maintenance..
had to get a breaker bar to break axle nut after a tyre
change [by dealer], even then it was difficult..
over-torquing in place of the cotter pin[?]
changed tyres, chain maintenance in 5 previous road hondas
with only normal tools, no torque wrench used, no problems..