The 100 Ohm setting on your phono stage will match the manufacturer's suggestion. My experience with the 901 put VTF at 1.92 with the tonearm slightly lower at the pivot end. If tonearm adjustment uses a set screw, then it can be awkward. You can try using a deck of cards to gauge relative position and to get repeatability. The
Teres VTA adapter might be worth a look.
It may not be helpful for me to say that you will know it when it is right as compared to when it is off, even just a bit. But it is true and worth the time to sweat (patiently) over the alignment. The soundstage will be open and should yield nice depth; notes should be well focused in space and not horizontally spread out. You'll get a kick out of the 501 - have fun!
Cheers,
Tim