"The chain really walks around quite a bit"...
I suspect it might be time to bite the bullet, swallow, and replace the chain. We had similar issues last year with a chain that was noisy, broke a connector link, hard to tension uniformly. I suspected that the chain was getting due but was trying to limp to the end of the season when I'd have time to research a more economical source of O-ring #80 chain. Before we finished in a very difficult fall, I decided that combining hours were scarce enough that we didn't need a simple roller chain standing between us and completion.
Bottom line, new $gulp$ chain - runs super smooth and even, fraction of the noise, set tension and tensioner doesn't bounce around when the auger is engaged.
Ken