This year, I purchased a MotionPro Chain Alignment Tool. It is a simple tool which clamps to the sprocket and has a thin rod which is used to sight along the chain links. It appears to be even more accurate than using the string, and a bit easier to use, with the following caveats:
1) If your bike has a chain guard (mine do, as do most) the tool must be used on the bottom (misleading pictures by MotionPro, who shows it on the top).
2) You must remove it before moving the bike. I read about this and chuckled, then did it myself first time. Duh! Thankfully, it uses plastic screws, which I hopefully will find at my handy-dandy Ace Hardware Store.
I am going to check it on my GPz this week, but it was more accurate than the string method by about a half a notch (using the inaccurate factory notches on the swingarm).
Sorry George, had to throw one in from the "shafted" side of the force.

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