So I only have V1 experience but
I set around 2.45-2.96mm BTDC on a motor that normally has an 80mm stator, and I use the arrow that points to the second mark to set my timing.
I.e: if I want 2.96 I use a set of calipers and get the piston to 2.96, then I line the marks up and tighten down the nut.