This piece of crap...So it seems that I can do without the tensioner, given that my frame has whats called "drop-outs", or the slotted part of the frame where the tire is mounted. This gives me the ability to simply adjust the rear tire back if I need more tension on the chain. So yippee...I guess. Still doesn't change the fact that I've already burnt the $$$ on two tires :(.
I'm gonna hit up the internets some more and try to get as much info as I can, because I'm really tired of buying tires. Ideally this will be the last weekend of construction, ideally.