I just use a dial indicator on a magnetic base,mount the base to the oil filter or other metal object on the block and run the tip of the dial indicator into the timing plug hole,some dials may need a extention to reach the pump plunger,they can be found in different lengths.Work like a hot damn,very simple and easy.
I was shown this by Raj down at Fred Holmes Fuel Injection here in Richmond...
ForealBoreal,the little adapter you bought should work really well ,here is a couple of videos that should give you a idea on how it works with VE style pump on a VW,you might need a little extension for the dial indicator,you can get different lengths or a certain indicator to get the rod length correct.
http://www.youtube.com/watch?v=FTXAm4P6nXU
http://www.youtube.com/watch?v=x5RF6C1OX70
For you guys out there planing on tearing one apart,should take less then 5 minutes,this guy has some good videos..
http://www.youtube.com/watch?v=YCK3HHS-qkI
James...