A lot of well meaning, and good advice, but I suspect that your question, though answered, might need a little more clarification.
The method you describe, will indeed help you set the leadout fore and aft location, to a safe and good, approximately correct location.
All that is now needed to find the same kind of location for the vertical CG, is to look at the plane from the front, or back, while hanging on the leadouts.
The wing should hang straight up and down, perpendicular to the ground, when the vertical CG is close to correct. If you're looking from the front of the plane, and the wing is tilted to the right, ( towards the bottom of the plane) your leadouts are below the vertical CG. Of course tilted to the left, and your leadouts are above the vertical CG.
You can imagine some of the trim problems you could have when there's a lot of mismatch with the Vertical CG.
Bob Gialdini once explained a simple way to get pretty close when you design a model. He stated that there's a lot of math that can be used to determine the exact location of the CG, both vertical, and fore and aft. He also told me that for most of us, it's just too much to figure. Hwe then told me what he always did. He drew a scale outline of his design from the front onto stiff posterboard. He said to include everything, gear, stabs, wing, fuse. Cut it out as accurately as you can, and find the spot where it balances on a pin point. He said that this point will be as close as we need to be most of the time
Nowadays, I use the CAD system. I draw out a scale outline of both the front and side view, then have the computer find the center of mass. Close enough.