The indicators on Rikon's bandsaws are actually pretty good ballpark figures to get you in the proper vicinity. However, like any indicator that indicates based upon tensioning spring travel it is only accurate if the blade is of the proper length for the bandsaw. Some blade manufacturers, such as Olsen, sell blades that are up to 1/2" to 1" longer than stated on the package, which can really throw the indicator's usefulness out the window. However, you can still use the indicator in the future once you have learned what constitutes an appropriate level of tension for a specific blade. In fact, on my older Rikon 10-345 I had to adjust the tension limiter stop to allow enough vertical travel to accept and properly tension Olsen brand blades due to their added length (when I tension my 1/4" Olsen blade the tension gauge will read well in excess of 1-1/4", whereas my other blades, mostly Timberwolfe, are nearly always within about a needle, or twos, width of the indicated position for that width blade).
That said, until you learn the proper indication for a new blade, it is best to use the deflection method, coupled with feedback while making test cuts, to determine the proper tensioning level for your new blade. Done this way you are unlikely to go wrong. Just avoid excessively over tensioning a blade unless you really need that added tension for a job, then always release the tension when finished (or at least most of the tension, it is fine for some light tension to remain just to keep the blade snug).