The compound angle would be straight in for a square thread, which is 90 degrees to the axis; 29 degree thread is the acme thread, not a square thread, for it, the compound is set at 14 1/2 deg. If the thread you are dealing with has an angle to the axis, likely it is Acme, not square. If it is square, you can take a piece of stock the root of the threadi, and take a vee threading tool and trace a threading cut on it, and that will be the spiral angle; yes, there are formulas, but the "seat of the pants" approach works fine too; determine that spiral; angle, and add several degrees to it and grind the leading side of the tool to that angle, and as I previously said, the following angle can be nearly vertical and have sufficient clearance on it; if it is a square thread, feed straight in with the compound for each successive cut, for an Acme thread, feed in at 14 1/2 degrees with the compound.