At the very least, it's a good place to start. You may find that slight variations on this setting sound preferable to you.
I once heard two independant hifi dealers discussing bias settings and they both agreed that it was a waste of time. I decided that perhaps I had best avoid buying anything in either of their shops!

"Anti-skate" (bias) settings on arms are rarely accurate.  Spring mechanisms are particularly approximate and vary with arm position.  Thread and weight is more consistent

Incorrect bias settings will accelerate record and stylus wear.

Whilst the world is full of "golden ears", the best way to set bias is with a test record (and an oscilloscope).  A test record by ear is next best.  You are not listening to get no distortion.  You are listening for the distortion to be the same in both channels - which is why its more objective and consistent with a scope.

It depends a bit on the arm and cartridge, but a decent estimate is to use a blank record - £1 on ebay old style video discs are perfect.  No bias will have the cartridge "skate" towards the centre of the record.  My "wet finger in the air" bias is for the cartridge to take between 1 and 2 seconds to skate from the middle to the edge of the record.  By middle, I mean half way between the label and the record edge.  Even staying put (no drift) is probably better than most peoples guesses, and better than no bias.

The bias force is a result of the arm/cartridge offset and overhang.  The bias force increases with tracking weight, but not linearly.  It increases more for eliptical sylii than spherical ones, and it varies with groove radius and record material.  Obviously the overhang also affects bias force, and so it is important the cartridge is correctly aligned.

Yes - that is an opinion I have seen before.  I know a turntable manufacturer..., and like a stuck record, he gets good results at shows

Kogen carried out the main research paper I am aware of back in the 60's.  2 things are worthy of note.  First, is that skating force varies relative to tracking force between a heavily modulated groove and a blank groove (not disimilar to a blank record) and with an elliptical tip the graph plots for blank groove and 27.1cm/sec cuts were pretty much touching up to 2 gram tracking force - so less different than you might think

Also - if you set your bias force for a 27.1cm peak cut, and most of your listening is at substantially lower velocity, you have overset your bias for average playback conditions

Not by enough to notice.  Given vinyl material, temperature, moisture and a host of other factors affect this, you can get too pretty

If you have a test record, and know how to use it, brilliant.  If you don't, a blank disc can get you surprisingly close.