Re: Clutch travels too far in
Well, this begs the question from Andy - in your second picture, is your clutch lever pulled all the way to the handlebar? If the answer is "yes" then you need to tighten the spring as reg pointed out. If you have some more room to pull then repositioning the arm would be faster and easier.
Also, is there any play in the lever before the arm engages? I know you said you removed slack but you can also adjust the barrel nuts on the lever side as well as where the cable attaches to the engine to fine tune the tension on the cable.