Should the TV have any tension on it at idle? i see mixed reviews on that. One thing i think was pretty agreed upon was there should be an immediate pressure rise as soon as throttle is opened.
At idle there will be some tension but not a lot. If you unhook the cable from the carb bracket, the cable will move back toward the firewall roughly 1/4" to 1/2". You will have to pull on it some to reattach it. It will be piano wire tight at full throttle opening.
To check TV adjustment and proper travel:
Hook up the TV cable to the carb bracket. Remove the transmission pan. Have a helper rotate the throttle to full open (WOT). While it is held fully open look from under the car to be sure the TV plunger is buried in the TV sleeve. If it is buried, and if you have full throttle operation, your good for the WOT position.
But what is really important is the TV idle position. There is a great way to verify this IF the TV safety pin, spring and checkball have been removed from the transmission (these are located at the TV lever and can only be seen with pan off). Most builders remove these parts when they rebuild. If yours is stock and untouched, then it is still there and the procedure below won't work to check idle position:
Let the throttle return to idle. With the pressure gauge connected, and choke off, start the engine. Record the pressure in park. Let the engine continue to run and disconnect the TV cable and again record the pressure. If the TV idle position is correct you will see the pressure drop only 1-3 psi when you disconnect the cable. If it doesn't drop at all, the idle adjustment is too loose and/or the TV cable travel is too long. If it rises more than 4 or 5 psi, then the cable is too tight and/or the travel is too short.
If the pressure rises to about 150 psi as soon as you disconnect the cable, then the safety pin, spring and checkball are still in place. In that case you cannot use the above method to confirm the idle position. The pin, spring and checkball is a safety feature to protect the transmission in the event the TV cable breaks or becomes disconnected. If this is your situation the best you can do is make sure you see a pressure rise as soon as the throttle is moved and to be sure it is within the factory pressure specs. If it passes this test, take it for a ride. If shifts are short, soft and/or pressure is on the low side of specs, the cable is too loose, TV spring is worn, and/or travel is too long. This condition is dangerous and can damage clutches. Don't drive any further until corrected. If tranny shifts late or hard, TV cable is too tight. Usually pressures will be on high end or above spec but this condition is not dangerous since pressure is up. But it will be annoying to drive like that.
One last comment. The stock CZF 200-4R was designed to work on lower horsepower 305s and 350's. If your 70 Monte Carlo is anything over what was stock in the 87 Monte Carlo, it won't last long without modifications. You probably already knew that though.