I think you folks have gotten a bit off track here. You're worrying about how to calculate the offset rather than worrying about how to cut a taper.
The real advantage of using the BH (boring head) is the fact that it's a quick and dirty way to offset the TS center without disturbing the TS itself. The fact that the BH offset is calibrated is nice but not key to the utility of the technique.
If you were turning a non-critical taper (e.g., the column on a beam engine) where a fraction of a degree or so didn't matter then, yes, you could do the setup using the BH calibration. You mount the workpiece, its length determining one side of the triangle, then crank in the offset on the BH, said offset determining the other side of the triangle. What really matters though is the distance between the two pivot points of the workpiece and that changes minutely when you introduce the offset. Thus you'll never turn *exactly* the taper you calculated.
However, if you're turning a critical taper (e.g., a Morse taper to fit a machine socket), you would never use the technique described above. It's just not accurate enough.
Mount a true cylindrical piece of stock between centers. Mount a straightedge of some sort on the compound. By pushing the straightedge against the stock, get it aligned parallel to the lathe centerline and clamp it in place.
Now, mount the BH and set up the workpiece in the lathe. With a sinebar set to the correct angle against the straightedge, twiddle the adjustment on the BH to bring the workpiece parallel to the sinebar, thus establishing the correct angle.
Aside: A precision angle block can sometimes be used in lieu of the sinebar.
If fiddling with a sinebar and such is too much for you, there is another less accurate way. Rough adjust the BH using the calculated offset. Now, with a DI mounted in the toolholder, measure the offset of the workpiece over an accurately measured (use another DI) interval of saddle motion. If that saddle motion is 'L' then the DI-measured offset should be:
os = L * tan(phi) (phi = taper half angle)
Continue fine tuning the BH offset until you get the calculated value for 'os'.