solg
To answer your question, " That doesn't necessarily bring you to the center of the dwell though.Does it?", the answer is no.
The movement of the piston when the crankshaft is between + or - 10° is almost unnoticeable unless a dial indicator with its tip is placed against the top of the piston.
To get a better estimate of where the real TDC actually is, with the timing disk installed, the crankshaft needs to be rotated up to the point that the piston first seems to stop and note the rotation reading on the disk using the pointer as a reference.
Then, rotate the crankshaft a bit more until the piston just starts to move downward. Take another reading of the angle on the disk.
Calculate the number that is half way between the two disk readings and then rotate the crankshaft around until that number is aligned with the pointer.
Then, re-zero the timing disk.
Doing this should set the disk very close to the right place.
Of course using a dial indicator will get a much more accurate reading but the improvement isn't really worth the expense of buying a dial indicator (unless you have some extra money just sitting around).
After doing this, don't forget to rotate the crank to get the TDC at the top of the compression stroke to set the timing.