Ah, except it wasn't at the bottom originally. That marking is from when I changed the trans filter and tightened it down there. In that position, my Reverse was Park, Neutral was Reverse and so on. It slips down so should I pull it up a bit or give it some slack?
I would loosen the adjuster, put both the column and trans in park and tighten the adjuster at a middle point where the linkage has some free play (so neither of the arms has pressure on the rods). While you have it loose, put the shifter in park with the key in the lock position and see if it will come out of park, that should tell you if there are issues inside the column.
Always mark things before you take it apart. This includes driveshafts, brake drums, steering wheels, distributors, door hinges or any other thing that can fit more than one way. It will save you a lot of time by not having to do things more than once...less headaches in the long run too.
