Go to Shopsmith Large Format Drawings, Illustrations and More
It's here in the Maintenance and Repair Forum where your post was appropriately relocated to as JPG suggested.viewtopic.php?p=185690#p185690
Scroll down the page until you find document:
Bill Mayo - Mark V Headstock Improvement - Repair Kit for Speed Control and Eccentric Bushing v1.01 13 Jun 2016.pdf
Download it and it is the best Speed Control Adjustment document that I think you will find. It is the collection of knowledge and posts on the subject by my late friend and mentor Bill Mayo.
Looking at the way your Gilmer belt is tracking, look at that as well. Eccentric may be non-captive in the headstock, and a fender washer is often needed if screw at 12:00 O'clock. Yours is Gilmer so screw may be lower toward bottom , plus the setscrews he talks about to retain bearing in eccentric. Be sure not to over tighten in the eccentric. Pay close attention to the eccentric bolt below and don’t over tighten it or you can break off the casting ears that clamp it in place.
All of this, he discusses including how to adjust it. Lots of photos included.
Can't tell in photo but I would reroute the wiring away from the speed control mechanism. It seems very close.