Close... the position is more like 5-5:30 if you are looking at the bike from the drive side. The 30 degree rule is best applied when the crank is parallel with the seat tube. Often overlooked (especially on track frames) is knee over spindle. When your right foot is right above the 3:00 position there should be a straight line from the bony protrusion right below the knee to the spindle of the pedal (assuming your foot is properly set on the pedal). Most kids I have seen on track bikes are to far forward (and usually to high).

Hand placement and how it effects fit in relation to saddle position is a much more difficult thing to generalize because there are just to many variables (body proportions, flexibility, history of injuries etc). If you just can't get comfortable do yourself a favor and find someone local who understands bike fit (all of those on line fit formulas are total crap). There is no real substitution to seeing a professional.

Hope this helps.