Right, @ Lewm is on it. All you care about is the cantilever being perfectly tangent to the groove at two points on the record as dictated by your preferred alignment. To get that tangency you have to juggle the variables of overhang, offset angle and pivot to spindle distance. Pivot to spindle distance is fixed as long as the tonearm is mounted correctly. There are tonearms like the SMEs that have an adjustable bases, but most do not. This leaves overhang and offset angle. To set these accurately whatever alignment tool you are using has to index the stylus so it can not move and it has to clearly indicate tangency in such a way that it is easy to get the cantilever perfectly coplanar by eyesight. Magnification is mandatory if you really want to be accurate.
@pinwa There is a significant difference. Most people do not notice it because they are listening to tonality which does not change. What changes is the image focus. I can demonstrate this on any system that images at or near the state of the art just by twisting the cartridge in the headshell a few degrees, making before and after recordings then ABing them.
@macg19 I have several Wally Tools and they are great, JR also knows what he is doing. However you need to be able to do this yourself. All you need is a SmarTractor, a WallySkater and a Wally Reference. With these tools you can be just as or more accurate than anyone.