A couple of questions and comments, Skygawker:
Q1 - Are you taking photos or observing? I'll stick my neck out and say that collimation is much more critical for the photographers. I reckon most observers can cope with less than perfect (eg I don't think they need collimation to thousands of an inch)
Q2 - Is it a 2" focusser which uses an adapter down to a 1.25" eyepiece or cheshire? From what I have seen, yes, the brass compression ring version is much better at holding and centring the item being gripped. (And does less damage on the chromework.) Can you get a new adapter with a compression ring? They are a standard accessory. (Or is it the 2" focusser itself that has the screws only. Strange, I thought most came with compression rings these days?)
If your cheshire is still sloppy in a compression ring, stick a layer of contact (yes schoolbook variey) around the barrel and see if it is a snug fit then.
I don't think it is abnormal that you don't see the primary mirror clips all the way through focusser travel. Is this looking through the peep hole of the sight tube or into the empty focusser?
I don't know the telescope, so let's see what others who know of it, can say.
Lastly what do the stars look like? Sharp pinpoints of light at focus? Nice clean concentric circles just inside and outside focus (look up "star test")? If so, what more do you want?
