Guy. You might be just as well off buying a laser pointer from Jaycar or Dick Smith or the like. (Do they still use them for pointing at overheads in training sessions?) I held them switched on with a bit of tape over the button and mounted them with plasticine to align my drivetrain and some body panels... Worked a treat and cheap as chips.
I think Mike's has a grooved base specific for pulley alignment.
![](http://i938.photobucket.com/albums/ad228/wirra/Tailshaft%20alignment%203_zpssfltaybv.jpg)