Chedster - the notch is uppermost so it is visible looking down the carb throat.

Chipo - those settings are not hard and fast. A lot depends on fuel type and local temps, humidity etc. But I would think they should be within 1/4 turn at the most.
Don't want to give anyone bad advice here, so perhaps one of our forum gurus could chip in with some expert advice on idle gap, pinch tests etc just to confirm or correct what has been posted recently