My transmission is 4 degrees down and my axle is 5 degrees up, is that ok? I'm trying to track down a vibration in my drive line. I measured from the face of the pininon yoke where the screws go in, and the face of the transmission shaft. Is that accurate? I also have my front end on ramps, and my axle sitting on jack stands. Would this givw me an accurate reading?

You should have weight in the drivers seat to simulate the driver. Good info on pinion angle in the archives.

I think you'd want it on all 4 tires on a level surface for the protractor to give you a correct reading.