Hmm, maybe I'm just not explaining this well enough. The issue is not that the belt is or is not 'setteled' in. The issue is that there are small differences between the belt that was installed on the car and the belt you are putting on. The idea of neutraling out the gears is to get the teeth on the gears and the teeth on the belt in perfect sync with each other. This way, the teeth on the belt won't take any undue flex or load stress like it would if the teeth were not properly lined up. Otherwise, the belt will bunch up too much in the middle and can ause it to walk as if there was not enough belt tension. It is also clear that you didn't read, or at least remember, the entire step of neutraling out the gears. You don't install the belt like normal and then loosen the gears. After you remove the old belt, you loosen the gears, then install the belt as normal and then tighten up the gears starting with the intake cam.
Ford seen enough of this issue as to try to figure out a way to fix it so they didn't have to keep doing warranty work on new belt installs. This is the fix they came up with. I can't speak for anyone else here, but I certainly trust a Ford systems engineer more then anyone on a web forum. At least when it comes to fixing something that keeps them from having to do more work.
I ran into this issue several times before the TSB and I kept thinking it was a tensioner issue. After the TSB, it is not been an issue since. If you have done timing on a few Zetecs (probably any DOHC engine) then you should know that putting a new belt on is a real pain because it seems like the teeth don't want to line up. I've tested this myself. After fighting a belt on, I then removed it, set the gears neutral to the belt, removed it again and it went on easier after setting the gears.
You can all do what you want. I'll continue to set the gears in this way as long as it continues to work.
I went back and read amc's post about floating hubs and cams. I know how the VCT works. I can tell you that if you set that hub off one tooth you will get a P138x code. It is not self adjusting as you say. There is a large hole in the front of the cam spool and there is a tab on the VCT hub. The tab goes in the hole. At TDC the hole should be at 12 o'clock. A P138x code is common if you just replace the belt after the previous belt broke because the hub/hole is not at 12 o'clock when the new belt is put on. Basically, if you don't have that hole set right, the return spring in the VCT hub is not properly set and will not function as it should. While the VCT is reliable and durable, it is very sensitive. Even just using a 40 weight oil will cause VCT to work improperly. A small bit of flashing in the supply hole makes it goe nuts.
As far as belt quality goes, I only use Ford or Goodyear belts and even they have small differences in tooth width. If tooth spacing is an issue then that belt isn't going to last long even if you neutral out the gears.