The best angle of heel is 0°.
The orthodox reply would be that in most conditions, you want to sail your DS flat. And I see several reasons why that would be the correct answer.
The minute you heel your boat, four things happen.
- The shape of the immersed hull becomes asymmetric
- The wetted surface is reduced
- The effective area of the CB is reduced
- The effective sail area is reduced
The CB on a DS is, if anything, undersized, so reducing its effective area will make the boat drift faster to leeward. If you can keep the boat upright, by sitting out or hiking harder, you maintain larger effective sail area, and that gives you more drive force. Asymmetric hull shape will result in the boat trying to steer, adding to the weather helm. To correct, you need to give more rudder, slowing down your boat.
At really slow speeds, in light winds, many dinghies are sailed with an artificial heel (by shifting weight, not from wind pressure). This will reduce the resistance due to wetted area (something that you might not care about outside a race). Whether this makes any difference for a DS I haven't been able to verify myself - there's nobody nearby with whom I could do boat-on-boat trials.
Now, if you are already overpowered (not enough weight to keep the boat flat) then letting it heel a bit helps spill power. But at a cost of causing more leeway and requiring more rudder. You'd be better off letting out some mainsheet.
Back to the use of the gage: it's surprisingly hard to know when you are sailing completely flat. So the gage would be most useful near the 0° mark. Not much past 30° or so your rubrails and then your coamings will be in the water. At that point, you are going to be too busy to read small gages and would be better off keeping the water from rising higher on the lee side - something you can nicely judge "live" without the need for additional gadgets.