Looks Ok at first sight. If you are worried about the luff sleeve seeming loose around the mast that's normal for a skinny mast. It comes out as soon as you get wind in it. Here's a pic of my Wave Panther:
I took this pic and a heap of others to send to David Ezzy when I had some questions about setting these sails. He helped me out within 12 hours.
The thing you have to be careful of is making sure that you put the correct amount of outhaul on. These sails are very different to all other brands in that regard. Follow the directions closely and get used to the amount of effort you have to put into outhauling. It doesn't feel natural to be pulling so hard on the outhaul line if you've been used to other sails but it is very necessary.
You've shown a picture of the leech at the trim guide. I'm not sure if your concerned whether your doing it right and it's hard to see in you pic. Here's mine set at MAX downhaul and outhaul - you can see the leech collapsing to the innermost mark (David told me I had overdone it a bit):
Once again correct outhaul is essential in combination with downhaul. It has a lot of effect on the overall set of the leech.