Welcome to this wonderful forum

the way I did mine was lay it on a piece of wood with the approximate waterline drawn on, position the centre of the feathering gear so the floats look to be at a suitable angle and measure how far ahead of the drive shaft the feathering gear needs to be...
...question is, what is the best angle for the floats to enter the water?
The way I saw it, if the floats are vertical they give minimum resistance to the engine/motor but also give no forward 'thrust' (or very little, as they wouldn't really hit the water moving straight downwards...) also, if the ship is moving at speed they could slow it down by presenting a flat 'wall' to the water until they move further around the wheel and start moving horizontally.... and the same applies as they are leaving the water...
so I tried to get mine at a similar angle to the blades of a propeller as they enter and leave the water... though I,m not sure how valid my reasoning or accurate my method is

whatever, the 'offset' of the feathering gear from the drive shaft will need to be less than the distance from the attachment point of the feathering rod and the pivot point of the float itself, in my case it's about 30% but no doubt will depend on your own wheels