OK then. Keep in-mind, this is a shortcut but, when done properly, has produced results just as good as when I do the setup with indicators and verify with angle blocks. To do this properly, you must understand how backlash works and backlash has to be adjusted for given the directions you're traveling when doing the setup moves.
First, assume you have a triangle that has a hypotenuse (diagonal leg) of exactly 1 inch. I'm using 30 degrees as an example but any angle can be used here. Just use and assume a hypotenuse of 1 inch.
Everything is done with the lathe off (not running). Also, you should have a piece of stock that was just cut in the lathe without it being removed from the chuck.
See the diagram. Assume the black horizontal line is the workpiece. At point "A", touch the bit to the workpiece. Next, zero your compound dial and back it out exactly 1 inch to put you at point "B". Next, zero your crossfeed then, turn it to move the bit to touch the piece again at point "C". When you touch, read the crossfeed dial. If the compound was at exactly at 30 degrees, the crossfeed will read 0.500.
Repeat the process until and adjust the compound angle until the crossfeed dial reads 0.500 when it touches at point "C".
Diagram 1
Actual examples:
First make sure you'll have 1" of travel in the compound and preset to about the angle you want.
Zero the compound dial:
Move the bit forward to just touch the piece. Use a consistent touch for every step. In this picture I have not touched yet.
Now it's touching.
Zero the cross-feed dial as soon as you touch the piece.
Crank the compound backward 1 inch (in my case, 10 turns).
Turn the crossfeed in till the bit touches the workpiece then read your crossfeed dial again. You'll notice now the bit touches to the right (point C) of where it first touched off.
If your compound angle was set properly, the crossfeed will read 0.500 now. Keep repeating with adjustments to the compound angle until you end-up at 0.500 on the crossfeed.
If you want to make a 10 degree angle, the distance you are shooting for will be Sin(10) which equals 0.174.
I can't stress enough that you need to understand backlash and turn the dials accordingly to adjust for it. Also, keep the same touch in your fingers when you touch-off the bit to the metal. If you are consistent, you will nail this dead on.
Also, I want to mention, this is NO substitute for a massively solid lathe and a good setup with dial indicators. It's quick & dirty but, I have perfected it to work as good as this lathe can cut given it is a 12", 1000lb lathe.
Have Fun...
Ray C.