My experiences with Italian bandsaws:
-Never used or felt the need for a tension gauge, either on-machine or handheld.
-The #1 cause cause of unsatisfactory cut quality or performance was caused by inadequate blade tension. Every new owner seemed afraid to hurt their machine by cranking on it. There is literally nothing you can do to hurt a Centauro. The blade will snap long before anything happens to the machine, so keep cranking.
-#2 cause of poor performance was owners setting the guides too close on the wider blades. That actually could create a wandering cut in addition to torching the thrust bearings.
-I always used the flutter test "plus a little more" on 1" carbides. The blade will go long before the actual machine has issues.
-IMO, you don't really need max tension unless you're cutting something really tall, like veneers, milling, etc. Again, I never used a tension gauge but can probably say that for the average 8/4, 12/4, etc resaw job, I was probably using a lot less then 25K psi or whatever. Sure, you need really specific tire pressure for a race car but it doesn't matter if you're just to the corner store for some milk. My rule of thumb always was to try to use the minimum amount of tension needed for whatever the cut was. You just get to a point where you can feel the machine cutting smoothly, no weird sounds from the guides, etc.
Just what worked for me.
Erik