Keener,
As mentioned earlier, you set the gap at the high point. Visual observation of this is fine. People have been setting ignition points in this manner for many years.
TT is one of our most knowledgeable members, he WILL NOT steer you wrong. Follow his advice.
Also, as mentioned, get yourself some good service literature.
If you set the point gap at the F mark the bike will most likely not run at all, and if it does run, not very well.