I again must preface my remarks with the knowledge that I haven't drip timed a diesel in over 15 years.
The real key to good drip timing was geeting good flow when more than a few degrees before "beginning of delivery". When all restrictions (I don't think the later pumps can be put in this condition) are removed (spring and valve on pneumatic pumps)the fuel flows continuously when more than a few degrees before this position. The flow stops totally within one to two degrees of crank rotation. This is the reason for one drip per time constant, if you go too far then you must go around again.
As to the alternative method provided on cando's link, It seems a good alternative to the problems I have seen on the mechanical governed pumps. I would add a degree or two as the 24 degree position is for "beginning of delivery" and is measured just before the point (by the drip method). This method is measuring after the fact as it is looking for the actual fuel being pushed.
Engines not timed properly may start poorly, smoke blue or white, and lack in power.
Bosch Master, ASE Master, L1
33 years MB technician