David,
I oped for the KISS principle.
2 mtr length of 2x1 - straight. Lay it on the ground EAST/WEST. Using a compass and adjusting declination for Melb which is -11 deg, line the timber up at 259 deg not 270 deg. Peg timber to the ground. Place both rear legs against timber - front left now point to true south. This gets me within 1 deg error margin.
To do my alignment, I use alignmaster with the laptop. I do this 2-3 times and can consistantly get within 1-2 min or better.
Software can be found here:
http://www.alignmaster.de/en_alignmaster.html
Cost is about $19AU.
Total alignment takes about 15 to 20 mins.
The last couple of photo sessions using PHD to guide were spot on.
Catch is you have to use a computer (with ASCOM drivers) to control the scope in order to run alignmaster and to guide.
Clear skies
Rod
