Loose on the left, tight on the right.  With the handle pointing towards the headstock/carriage, I was sure it would interfere with some operations, particularly when the compound was rotated counterclockwise for taper turning or chamfering.  Examples of these two operations are in the lever and nut.

In addition, thickness of the ways at the very end of the bed made the tailstock too tight to slide while at the other end, the nut barely tightened enough to secure the tailstock.  Fixing the way thickness problem is one solution.  I also though of getting a large adjustable handle, such as used for locking the gibs on the minimill.