I found an old article in the October 1995 issue of Hot Rod entitled "Degreeing the camshaft" in my library. This was part of the"Engine Tech / How to make it work" series. It states that to check your degree wheel accuracy you should follow these steps according to Dale Browning of Lunati (he was in '95 anyway):

Degree Wheel Accuracy Check:

1. Lay your degree wheel on a large piece of paper. On the outer edge of it
mark a line at the 0, 90, 180, and 270 degree marks.

2. Rotate the wheel so that the 0 (or TDC) mark now lines up to 8 degrees
after TDC. The other three marks should now have the same 8 degree
difference.

3. If there is more than a 1 degree difference at any of these points your
degree wheel is innacurate and you should find a new wheel. Errors of less than 1 degree is acceptable for use.

 

cool i'll have to try that

edit, yep mine is on