Problem: I am making a new "valley plate" for my Jaguar V12. I want to use the distributor drive to give me an accurate engine position reference for the ECU. I can't easily use the original valley plate, because I'm also mounting 12 coils onto it, and headroom is an issue.
Here's the original distributor mounting plate:

The inner hole is 40mm (maybe a shiver less), the recess takes a rubber seal, and the rest of the plate is a reference surface for the bottom of the distributor to sit on.
What's not obvious from the photo is, the plate is at an angle with respect to the mounting face, of 6 degrees. Fortunately it's only off-horizontal in one plane... otherwise I'd be in serious doo-doo... Anyway, this is the underside in case it's useful:

The flat bits are my horizontal reference.
So... what I need to do, is accurately locate the hole in my replacement valley plate, at the same angle, but I'm not sure how to do it...
My thought so far is: Turn a bar to a sliver under 40mm (the original dizzy drive is 39.80mm by the digi calipers, I've not broken out the micrometer yet). Turn a point on the bar, so effectively a fat dead centre.
Next, mark up the plate with some micrometer blue, and clamp to a piece of cardboard. Smear a little micrometer blue on the point of my "dead centre", and push it through the hole, until it contacts the cardboard (leaving, one hopes, a tiny blue dot). Remove & unclamp. Measure from blue dot to edge of casting using a digivern. That should give me the exact centre point of the circle at the base line of the valley plate. When it comes to milling out, I should be able to centre-punch the bottom of the plate, set my angle plate up to 6 degrees, use a pointy centre finder to align the spinde, then using a fat end mill, mill a flat, then centre-drill, twist-drill out to as big as I can get with a twist drill, and finish off with a boring head to give me the final 40mm dimension.
Am I on the right lines there, or is there a better way? Thanks in advance!