Jim,
If its the bandsaw I think it is, its my opinion that there is a cavenous void between your expectation and its capability. On the tension issue, its about right if you can deflect the blade with your finger about a quarter of a centimetre, but just to satisfy any job hungry H and S inspectors please ensure that the machine is switched off when you try this!!! Unplug at the mains, isolate the RCB and tell the electricity board and you should be safe if your wearing rubber soles.
Cutting veneers with that spec is not going to work and cutting anything denser than pine is going to be an ordeal. Is it this one? Draper Hobby Bandsaw 230 Volt 09681 - £130.99 - Ray Grahams DIY Store