I've only timed two bikes with a strobe, both Triumphs and both with camshaft mounted breakers so only 3 gears in the train instead of the 4 of the Vincent. However, the backlash wasn't an issue for either because the engine rotation removed it and so the timing marks didn't vary, i.e. both were better than a degree. As for the ATD, timing is done with it mechanically locked in the fully advanced position so it bumps up against the same hard stop every time. So, the only reason I can think of that there would be a problem of timing variability in operation with a Vincent is if they are somehow manufactured much worse than Triumphs.
Having said the above, I don't lock magnetos myself when installing them. What I wrote earlier is that if you were going to lock them, you should lock them in a way that was reproducible. Another point is, even though backlash isn't an issue in operation, it is an issue to be concerned with when setting the static timing.