+1 for Jasons excellent pictures.
My top slides live at 25° with the arrangement shown in Jasons first picture. Because I use the Zero-to-Zero method it doesn't really matter, within reason, what angle the top slide is at.
The lathe does all the top slide in-feed calculations for me.
What matters is that the (sharp) tool-bit is exactly perpendicular to the job and that all the backlash is taken out when setting up.
Jon makes a good point about the tendency of Zero-to-Zero to end up with excessive in-feed and too small a minor diameter when the tool point is too sharp. Given that partial profile inserts do the same thing on any size beyond the smallest of their specified range I don't believe that industry considers, within reason, a little undersize on minor diameter a great worry for ordinary threading jobs.
As regular forumites know (ad-nauseam) I consider the most important requirement if any way of doing any job is to be suitable neophytes and inexperienced folk is that it be easy to figure out what went wrong if something doesn't go as per plan. Ideally it should be possible to step back to the error point and sort things out before the job is scrapped.
With too sharp a point on the tool Zero-to-Zero initially gives too large a minor diameter so the the mating part will not screw on. So the point of failure is safe and the extra feed needed to allow the mating part to fit can be applied in a controlled manner. Once a fit is achieved the operator can choose between accepting an undersize minor diameter or grinding back the tool tip sufficiently to eliminate the excess in-feed on a replacement part.
Effective though it can be the Martin Cleeve side feed correction method is heavily dependant on operator skill and experience. I was taught it, I can use it but "My God its easy to get lost".
Clive