I think I am not understanding overhang then. The null points must be for aligning azimuth.
I think you're right--you are misunderstanding the terms.
Alignment is the orientation of the cartridge in the horizontal plane that is parallel to the record surface. Azimuth is the orientation in one of the vertical planes that is perpendicular to the record surface. When you view the cartridge mounted on the arm from the front, it is the degree that it tilts upward either to the left or the right. This positioning is adjusted either by eye or listening to make sure that both channels are equal in signal strength.
Now, back to cartridge alignment. For pivoting tonearms (as opposed to linear trackers) the best scenario is that there will be two points during record play where the distortion is the lowest. These are called the null points. The idea is to find the two points that produce the best compromise of overall least distortion and best sound over the entire play of the record. Baerwald, Loefgren, Stevenson and some others experimented to find the two points they felt produced the best overall result.
These points are arrived at by plugging in different variables into essentially a triangle equation. Those variables are (1)the distance from the arm pivot to the spindle (arm mounting distance), (2)the distance from the arm pivot to the stylus tip (effective arm length), and (3)the angle of the cartridge with respect to the long axis of the arm (offset angle). Overhang is a direct function of the arm length--it is the mounting distance minus the arm length, which is the same as the distance from the center of the spindle to the stylus when the long axis of the arm is over the spindle. The mounting distance is fixed, but the other two are changeable. Overhang will change depending on the null points used. The published overhang for a tt is based on the null points the mfr used, which might be the same as one of the major protractors, or not. So once you use different null points, the effective arm length and hence the overhang will change, because the stylus will move to a different position.
For turntables that supply a jig or a cartridge mounting measurement, the mfr is providing you the variables up front which will ultimately result in the null points the mfr used. By keeping the cartridge square in the headshell you are setting the offset angle. By using the measurement provided, e.g. 52mm for Technics, you are setting the effective arm length (and overhang) where the mfr intended. You my not even know the null points, but you have achieved them by effectively plugging the variables into the equation.
When you use a protractor, you are working from the other direction. You are starting out with known null points, and through using the protractor will wind up with a certain offset angle and effective arm length/overhang.