I torqued down the flyweel nut last night to 300ft.lbs., but I notice that about 2 threads of the nut are not engaged.  It looks like the flywheel taper is seated completely, but I've never known of a properly assembled threaded structure having part of the nut sticking out.  Do I need to pull this apart and see what is amiss, or is all as it should be?

BTW, still haven't determined if the engine-to-bellhousing bolts are 1.25 or 1.00 pitch yet.  I don't have a metric thread gauge.  Another good excuse to by more tools!!