Degreeing a Cam Shaft

Say your dial indicator is 5° off from the direction of the pushrod. The cosine of 5° is 0.996 or 99.6%. Your dial indicator at lifter lift of 0.050" will read 0.0498". Since most dial indicators read to the nearest thousandth this small error won't even be detected.
....and you "know" you're off 5 degrees HOW? For me, it's not open for debate. I based my recommendation on my opinion and personal experience. In other words, how I would do and have done it. So an argument here is pointless, although I certainly appreciate you breakin your cherry to point it out.