The wheels on mine could be out of plane. I did spend some time trying to adjust the moveable one, but if the machine is worn badly then this process will only go so far.
The biggest difficulty in threading a new blade seems that the adjustable wheel cannot be wound inwards quite far enough to allow slipping the slack blade over both wheels. It may be possible to achieve this by fitting a longer adjustment screw.
Oh, I agree the guide rollers must be set correctly, but quite how is another matter. It appears a rather hit-and-miss process: the ball-bearings that form the guides either contact the blade or not, though obviously must not clamp it. One of the two vertical guide rollers works, the other does not and this appears incurable.
If the guides are supposed to hold the blade on the wheels’ common tangent, despite the abrupt twist between guide and wheel, they don’t.
One improvement I made was to deepen the countersinks in the table and guide used in vertical mode. Previously the screw heads projected slightly above the table, obstructing free feed of the material and risking gouging its surface.
The other big improment was to put the machine on a purpose-made trolley to replace the frankly dreadful pair of wheels and bent-rod handle.