I managed to calibrate it without oscilloscope, but I spent some time on it and tried new settings several times.
You can get different possibilities according to the trimmers settings. A modulation effect more or less prominent, with various textures.
Even with an oscillo, I am not sure I would be entirely sastisfied with the calibration. Shaping the modulation slowly, untill you really like it, is probably at least just as good, and maybe even better. It requires more time working on the build, but it's supposed to be fun.
I would recommend an oscilloscope if you'd want to build a lot of them fast and all at once.
I remember last time I tried, I noticed the modulation was more discrete, "musical", and less background noises, if I didn't set the volume difference too high with the Gain 1 trimmer. *Almost* the same level i'd say...
"Adjust the Gain1 trimmer until the level at test pad 6 is about 10% higher than at test pad 5."
10% isn't much... unnoticeable i guess.
I also recall that on my build, there was a really narrow sweetspot on Bias1. It was quite important to get it right for a cleaner modulation.
Pad 2 with Filter Matrix selected 493KHz was 513KHz
Pad 2 with Slap Back selected 125,3KHz was 124KHz
Maybe it was the few KHz difference maybe the gain2 trim pot...
I don't think it's important at all to get the exact number. You have a good approximation and it should be perfectly ok.