Chris,
You have Astronomy 2008, right? In the back will be a table of the brightest stars. You will find the RA and Dec of the brightest stars there.
As sigma Octans is so close to the SCP, it's not a good choice to set your RA circle. Choose a star closer to the celestial equator i.e. one with a small dec. In reality a dec smaller than +/- 45 or even 60 degs would be fine.
I use a compass to rough align my scope. For my area, true south is about 168deg mag - it should be pretty similar for you as well I think. I find the compass easier than trying to find sigma octans.
Glad you got the mount sorted!
Al.
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