At 2.5 to even 5 pounds you are going to feel mainly skin stretch. It also depends on your attachment and the angle.
The angle you describe is SD. You seem to be in good position in the way you are describing it. I use it when I am having skin conditioning problems or other issues. I also use it to start my day. It is not as intense at BTC. If you slowly start lying back into bed, when you are completely back you will hit BTC. In order to do this you might need to put your pelivic area farther out from the bed so the placement of your feet is important. This way the hanger is not resting on the side of the bed. If the hanger isn’t hanging free then you have gone from a known weight to an unknown amount of pull.
When I first started doing BTC and lying down I would actually have my feet on the bottom rungs of a chair. Just the action of moving your feet up to the top of the chair or angling up your pelvic region even higher makes this stretch even more intense. For working on the ligs the BTC stretch is far more intense than just SD. However, you might need to work up to it. I find it a very effective stretch. You can probably gain with SD but BTC is an amazing stretch and you will notice the difference between those stretches over time.
There are posts here and on Bibs forum about LOT theory. I am not completely sold on the LOT theory however the other two tests that Bib talks about seem to have merit to me. These are the mirror and palpation tests. They are designed to show you what angles to start at, and how much potential you might have at the lower angles. For almost everyone that takes the test they end up at the lower angles such as SD and BTC. However, the amount of time spent at these angles is dependent on the tests.
Skin is usually what you will feel stretching first. In the beginning you are just working on building your tissues up to this. So the tighter the hanger the less skin you will stretch. However, in the beginning it is difficult to get the hanger tight enough. I usually tighten it to discomfort or tighten it to the point where it will require a lot of torque to continue tightening it. After I do this initial tightening I wait about 30 seconds and see if I can tighten it a little more. Usually I can get one or two more rotations. Then when I start hanging weight within a minute or so I tighten it some more. Throughout my first set I keep checking the tension of the wing nut. If it doesn’t require much torque to tighten, then I tighten it again. Usually I do this kind of tightening in the first set the most. By the second set your skin gets adjusted to it and you can get to that point quicker.
This is a building up process and the act of tightening the hanger can be hard on the soft tissues of your penis. So if in a session if you can’t tolerate tightening anymore then leave it be. This is one of the reason why you keep the weights low in the beginning. At low weights the hanger doesn’t need to be tightened all the way. However, as you go up in weight you will need to get it tightened where there is no movement of the hanger going towards the head. If this starts happening at the higher weights it will create a noose effect on the top of your shaft and the head and cause problems.
For the long term effectiveness of your hanger you should put a little Vaseline or 3-1 oil on the top bolt of your hanger. This is the bolt that you spin the wing nut on that makes things tighter. Plus when you tighten that wing nut you should start cupping the hanger with the opposing hand underneath the hanger and bringing the two halves together. This will take some of the friction away from the wing nut on the top bolt. If you don’t do these things they might strip over time.
When you get a chance you should probably check out Bib’s forum as it is loaded with information and he is a huge wealth of knowledge in regards to hanging. Some people get frustrated in the beginning and quit because they can’t get the adjustments of the hanger correct. He is your best bet of walking you through those stages. I am sure there are many people here that can help you out in those regards but he is the one who actually created the thing.