That's a good point... I guess I forgot about the "first time" aspect. As for the vertical adjust, I typically find some small flat piece of furniture (chair, small table) and slide it closer and closer to the wheel. It gives you a pretty good fixed reference point. Granted, this is no where near a substitute for a good truing stand, or a dish tool.
Anyway, Harris Cyclery and Community Bicycle are both fantastic, let me know how it works out for you.