Bob,
Yes, it is fairly simple to set the tumbler to the key. Each pin in the tumbler is a specific height (I believe they are numbered 1,2,and 3) and all you need to do is arrange the pins to correspond with the height required of the key. Sounds more complicated (or, at least, I make it sound complicated)than it is but it really is easy once you get the tumbler apart.
Merry Christmas.
g
'64 230sl, fully sorted out...ooops, spoke too soon