With this one, you hook the clip right to the power wire for the coil. Same as most dwell tachs I've seen (which isn't very many).
It practice, the inductive type are really nice -- that's how my timing light works, and it's easy to hook up.
Not sure why you and I get the opposite effect here -- obviously they count the sparks per minute to determine the rpm. I can only say that when the bike tach says 1500 the dwell tach says between 700 and 800 on the low scale.
Anyway, having read the carb adjust FAQ it sounds like you *could* adjust pilot screw by ear -- 50 rpm change is audible. I just tend to be over-anal about these things, and following the repair manual to a "T" should ensure a quality rebuild, right?
Hmm, too bad it won't tell me what to do when the pilot adjust procedure doesn't work.....
Cheers,
Zeke