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110mm OLN ish ,yep. The chain tension will change when you fold it, but that's what the chain tension is for. As long as you've got decent chain tension/slack without the tensioner when it's unfolded, the tensioner is irrelevant. The chain tensioner just takes up the slack when you fold it. Basically, it's a magic gear with a chain tensioner to take up the slack when you fold. I've found 54/13 (I think) works nicely.
Nah, go fixed. You know you want to...