Hi Dr. Porter,
I guess you have the Bentley 240 service manual.
If not, see the PDF file in here:
http://www.k-jet.org/documents/greenbooks/200-series/?browse=Section+5+-+Brakes
You've allowed slack at the parking brake lever nut at the rear of the lever? Some extra slack is okay.

You have the adjuster nut that look like a multi point star at the side opposite the brake shoes pivot. Item 48 in the image. Turn to close (shorten) the adjustment. First with rotor off.

You make this adjustment in stereo, and adjust left and right if the parking brake show to inside the drum varies left and right. Should not.
You may want to gently operate the parking brake level to help seat the parking brake show assembly. Not too far. More import to have the all without tension, save for the parking brake show return springs.
Glad you got your 02 sensor working. Seemed like a connector for the circuit from #4 fuse to the 02 sensor heater was disconnected under the dash?
yes, the cheapie Harbor Freight multi meter I have does not work, yet shows were you should have continuity and not, and voltages. With a new nine-volt battery, the cheapie harbor freight multimeter is not good with continuity or certainly ohm values when checking resistance.
With all off on both rear hubs, did you check and service the rear wheel bearing grease pack? I mean to, this year.
How worn were the old parking brake pads? I think somewhere around 1/8" is the minimum thickness. Or before the rivets grind the inside of the brake disc rotor drum. The brake pad material may come off before that.
Questions?
Hope that helps you.
Duffed.
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