Belt's now on. Cranked it over 2 full revolutions by hand and seem to get compression on all 4 cylinders, and all locking holes aligned too! In the midst of rebuilding it currently, so hopefully by the end of the weekend I may have a running 406 for the first time since before Christmas...
All the fuss was because the adjuster cam bolt type thingy on the tensioner was stripped so I wasn't able to fully compress the tensioner, but I wasn't aware of this. Got a crowbar in there and levered if further down, locked it in place and hey presto, on went the belt easy as pie!

My own stupidity really! It is the first time I've ever attempted a timing belt change though, so I'm pretty happy at how it's gone, especially as I've another car to run around in so there's no stress to get it done.