Thanks for the replies guys. I'll give your suggestions a try.
Anybody else align one of the previously mentioned carts on an MMF-5? Did it end up at the end of its travel? Is the factory installed Goldring 1012gx mounted all the way forward in the tonearm slots? (I stupidly didn't note its placement before removing it.)
The effective length for this tonearm is specified by Pro-Ject as 218.5 mm, with an overhang of 18.5 mm. This means...the horizontal distance from the center of the tonearm pivot to the tip of the stylus should be 218.5 and the horizontal distance along that same line from the center of the spindle to the tip of the tip should be 18.5 mm.
If you move the cartridge so that the stylus sits at the specified distance before you attempt to align the cartridge to a protractor you'll be able to get it aligned to the Baerwald two-point protractor within a very short time...at least, that's been my experience on an MMF-5.
I did use a Goldring 1042 (same physical dimensions as yours) on my MMF-5 and it was not all the way forward.