Those methods are great guys, but read my post
here about the compressor.
Then, you don't need to be near so precise
the first time when putting grips on.
As for your current methods, they're fantastic. I have a tile floor where I work, so I hold the club square to a tile, and eyeball the grip. Then I pop it with air, give the grip a little twist, check it again, (adjust if necessary), and away I go.
Jim, you're method is certainly more scientific than mine, (playing with squares - shame on you

), but it's exactly what you're trying to do. It may even make grip alignment much easier if I actually took the time to square my face while still in the vise...