You're actually all really close. The recirc valve is clockable with the upper and lower bolts. Clock that particular one more counter-clockwise.
You want a mild bit of preload on the steel rod and you get that with clocking the slots holes. I think you set that one a little too loose. They over rotate with no preload. That's part of our quality checks.
The cam is for adjusting the closed position of the butterfly inside. That has to be in the right place for it to seal correctly in a seated position. The steel arm does that.
The diaphragm runs off of vacuum like several other stock recirc configurations. It's not exactly like a wastegate actuator, even though it does look really similar.