The rear of the Hitch (Tongue) should be about 3" from the ground, when the plow is fully in the ground with the plow level front-to-rear.
The only way you will know if there are any other adjustment holes in those attaching plates is to take the bolts loose or out and see.
From what I can see in your photo it looks about right.
Have you adjusted the rear wheel..?
If you have a manual, it will show you a "Line-of-Draft" that will extend from your drawbar, to a point about 3" above the top of the rear plow share. That is the actual point that would be in line with the line of Force from the tractor drawbar, to that point.
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Today's Featured Article - Madison's County - by Anthony West. Philip Madison has been a good friend of mine for quite some time. He has patiently suffered my incessant chit chat on the subject of tractors for longer than I care to remember, and on many occasions he has put himself out, dropped what ever it was he was doing, to come and lend a hand cranking handles, or loading a find onto a trailer. Although he himself has never actually owned or restored a tractor, he was always enthusiastic and always around helping with other peoples projects.
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