Don't know where, but I recall seeing someone making a 'jig' out of PVC pipe to hold the carbs during servicing. 'Twas pretty cool, but not really necessary, but did I say it was pretty cool?
If you lower the hose it'll pull more fuel out of the bowl, lowering the apparent level unless you have enough gas in the fuel line to refill it. Best practice is to have the fuel tap on PRIME so you know you've got enough, or use an 'auxiliary fuel tank'. Raising the hose will make fuel flow back into the bowl, raising the level. Once gas gets past the float valve, it can't go back so the level will look like it's set too high. So down is better than up.
Biggest problem I have is air bubbles trapped in the drain nipple. I try to clear it by:
- hose looped up as tight as possible, end of the hose OVER THE FUEL TANK (so if there's a float valve problem I don't get gas everywhere).
- open the drain valve (hose on the nipple already, natch).
- blow about 1" of gas back up into the fuel bowl to dislodge the bubble.
- lower the hose to let the I blew up into the bowl back out. Lower it a couple more times to recheck the level to make sure it's repeatable.
Take the time to get this right. It's the most basic of all the carb adjustments. Screw it up and you'll never get anything else right.