This is very informative but let me make sure I have this straight.

The pointer is on the bottom base.
The pointer is aligned with Polaris and the base leveled.
The steel band with magnet on pointer allow for adjustments so you can tweak that alignment by moving the pointer after you test on some known objects. (without having to keep moving the entire bottom base)

If the markings are on the top board and are stationary with the OTA where do you set the gradients to begin with? The zero / zero goes directly below the center of the OTA at the front of the scope? That way you always begin with the scope pointed at the Polar North.

You then match the Azm:159 and Alt:+38 as per your favorite program (my settings at the moment for Jupiter) and your on target or at least in the neighborhood.

Am I keeping up here or did I miss something?