Another protractor worth a look is at www.turntablebasics.com. Just $20 and virtually identical to the Wally. It's more universal, since there's no scribed arc for the overhang of one specific arm. It will do nearly as good a job, though not as quickly.
With an OL arm you have to be careful with some of these gauges, since the geometry of Rega's (and OL's) isn't ideal for Baerwald alignment. What TT is your OL arm on? If you can shorten the spindle-pivot distance slightly from the standard 223mm to about 219-221 then you should be okay, though you may need to move the cartridge toward the forward end of the slots. If your tonearm mounting position is fixed at 223mm then many cartridges won't just align at the Baerwald points. It depends on the dimension from stylus tip to mounting holes. Some carts are too short.
I've never understood the point of Wally's (or anyone's) VTA gauge. VTA (technically, SRA) should be set by ear while listening to music. The optimal setting varies from record to record, so if the armtube ends up perfectly level it's an accident. What's the point of scientifically dialing in a randomly changing parameter? I suppose if you have an unusually short cartridge, like an old Colibri, you'll want to put spacers below the headshell to get the armtube level at a normal SRA. But you shouldn't need a fancy jig for that. A 50c bubble level will do.
With an OL arm you have to be careful with some of these gauges, since the geometry of Rega's (and OL's) isn't ideal for Baerwald alignment. What TT is your OL arm on? If you can shorten the spindle-pivot distance slightly from the standard 223mm to about 219-221 then you should be okay, though you may need to move the cartridge toward the forward end of the slots. If your tonearm mounting position is fixed at 223mm then many cartridges won't just align at the Baerwald points. It depends on the dimension from stylus tip to mounting holes. Some carts are too short.
I've never understood the point of Wally's (or anyone's) VTA gauge. VTA (technically, SRA) should be set by ear while listening to music. The optimal setting varies from record to record, so if the armtube ends up perfectly level it's an accident. What's the point of scientifically dialing in a randomly changing parameter? I suppose if you have an unusually short cartridge, like an old Colibri, you'll want to put spacers below the headshell to get the armtube level at a normal SRA. But you shouldn't need a fancy jig for that. A 50c bubble level will do.