No this is wrong - if you level the platter, and then alter the TT feet to level the ET tonearm spindle then the platter would now be out of level.
You level the platter, then level the ET using the 2 pillar screws at the base of the ET arm.
I disagree. My method uses the spindle as the measuring device. If you make the pillar perpendicular to the platter and the spindle parallel to the platter and do it precisely, your platter will end up being perfectly level when the armwand does not move inward or outward when bounced. This is a far more accurate way to level the platter than using a bubble level.
I just referred back to the manual and this is exactly how the procedure is described. I guess that's where I got it from many years ago.