Chain Issues Too tight or too loose

If you've got vertical dropouts, then you'd be better off with a half-link chain.

+1

How much of the wheel nut is grabbing the frame?

Just buy a half-link.

+1 For you also as I'm feeling generous.

Well, i'd say it's your call, but the chain will almost def strech that extra 30%. But of course you'd have to ride it properly (i.e. not tentitively) for that to happen... and whether that's safe in it's current position is up to you!

Nothing for you, that's just crazy talk. ;p