4 link suspension adjustments???

I hate to tell you this, but you have a ladder bar setup and not a 4 link under your car. Ladder bar setups are typically not adjustable and are not that great on the street from what I hear. The rod ends in your picture are heim joints and are designed to twist the 1/4" that you are talking about to avoid binding. Looks to me like the rear suspension was set up for racing, so there is no urethane bushings to soak up vibration. So you feel and hear everything. I would jack up the car and crawl under it and look for worn out bushings and rod ends. That could cause more noise and drivablity issues.

One question that I have is about the picture of the panhard bar. Is there weight on axle in that picture? If so then you have issues because the panhard bar should be parallel to the rear axle to avoid lateral movement in the axle as the suspension cycles. This will cause your rubbing and binding.

Here is a picture of a prostreet parallel 4 link that I have on my dart. It is still fairly noisy with the urethane bushings at every joint. I hope this helps.