[jhv48]

That sounds about right. When pulled tight, the lever should be pointing almost straight up. I adjusted mine at the handle so that it took less pull to set the brake, but you will need to remove your passenger seat (easily done by removing the four hold down bolts from underneath the car) peel away the carpet and tighten the holding nut on the adjustment rod. There may be a way to adjust it at the wheels, but I had to take the seat out anyways to remove the trans, so I did it that way

I never put a lot of faith in the holding power of the parking brake on any type of an incline, but it should hold on a flat surface. I put the car in gear also when parked.