I do like a solid hand built bike. I love cycling history, and I definitely think the old boys had it right. Get it roughly set up and adjust on feel, then just get out and ride.
Heel on the pedal is pretty much how I got my saddle height initially. I just used the Go Pro to make sure my legs were tracking properly. Getting the fwd/back position right is a different challenge altogether, although we do tend to obsess about these things far too much these days. I guess as long as I'm comfortable, I'm happy.
It's pretty amazing how we've moved with technology, materials and biomechanics; how we can now micro-adjust to the nearest fraction of an inch to try and gain the optimum biomechanical advantage; how materials are stiffer in an attempt to gain maximum power transfer. Great for pro's and serious amateurs, but for us mortals probably way down the list of priorities.
Have you ever thought of getting your old bike resurrected? I've seen a few people round and about riding old classics at the weekends during the summer. It's great to see that the kind of bikes I used to dream of riding as a kid still being ridden today.