Angular distributions of the differential cross section and the second
-rank tensor analysing power T2O have been measured for the one-neutro
n transfer reaction induced by polarized Li-7 ions on Pb-208 at 33 MeV
leading to five states in Pb-209. The experimental data were analysed
simultaneously with data for elastic and inelastic scattering of Li-7
by means of CCBA and CRC calculations. A strong effect of the transfe
r channels on the elastic scattering was found. Coupling to the transf
er channels cancelled out the effect of projectile excitation on the e
lastic-scattering cross section but was unable to account fully for th
e renormalization factor of the double-folding potential found previou
sly in an optical-model analysis of Li-7+Pb-208 elastic scattering. Th
e second-rank tensor analysing power for the elastic scattering was st
rongly affected by the transfer channels.