Assuming that your floats aren't fuel soaked or damaged, the correct float arm setting (for the 34mm VM Mikuni), with the carb upside-down, is parallel with the float bowel seating surface. As mentioned, the float needle spring should not be compressed while taking the measurement, which can be done by eye easy enough, and with only the float arm bearing on it, it probably won't compress, but it is easy enough to check: gently lift the float arm and then let it down slowly, if it compresses the spring then rotate the carb body until the spring doesn't compress; check for parallel. If the spring compresses you may need a new float needle. The spring is there to cushion the action of the needle against the seat.
If adjustment needs to be made, then gently bend the tab, on the float arm, that bears on the float needle with a small plain blade screwdriver. I recommend that you do not try to remove the float arm pivot, it is staked into a supporting structure, on one side with splines, and driving it out without proper support can cost you a carb. If you must remove the pivot, then you'll need an assistant or a specialized jig.