It does, but many of the C&V derailleurs do not have a B-tension screws. It didn't become standard until the advent of indexed shifting. Also, it provides relatively fine adjustments. Dependng on the dropout, derailleur, chain and freewheel combination, you may have to make coarse adjustments with the wheel position in order to get into the applicable range of the B-tension screw. For instance, if you took an old frame with long Campagnolo droputs and tried to set it up with a modern derailleur, 8-10 speed HG cogs and the matching chain, you could easily have too long a chain gap for optimal shifting performance, if you located the wheel at the back of the dropouts.