The important thing is that it is parallel with the body, or else you will never be able to get the intonation right. The height is a factor of action, on all Floyds. The higher the bridge is off the body, the higher the action. If you have the right amount of bow in the neck, you want to have the strings about 5/64" off the twelfth fret on the high "E" and about 6-7/64 on the low "E" (again, measured off the top of the twelfth fret). This is what I would call "spec" action for an electric. You can sometimes go a little higher or a little lower, depending on your playing style. However, make sure your bridge is parallel with the body when the guitar is tuned to pitch, otherwise the action will change as you start to adjust the intonation. It becomes like trying to find a needle in a haystack, except for the needle keeps moving into the part of the haystack you have already searched. Very bad indeed.
Or just take it to a good repair person and have them do it. Then you don't have to worry about the extreme annoyance of doing it yourself.
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