Hey Dan,
I don't necessarily think you should shoot for the "no light" status because you may never be happy.
Here are a few examples:
First round of pictures is with a piece of pine 2x4 jointed on one edge and then straight cut on a single bearing quill mark V with the incra v 120 miter guage. I do have a double bearing quill Mark V as well, but since the saw was on the single bearing quill setup for testing purposes, I just ran it on there.
The 'feeler guage' is a 0.001" shim. I had to somewhat gently force it a little bit underneath the edge of the board to show you what it would like with a powerful LED light behind it.
Without a shim and no strong backlight:
Wider piece of white oak using same technique without shim and with shim:
Without shim:
With shim:
No shim and No back light:
So, even with just a 0.001" shim wedged underneath the square, you get a little bit of light bleed through.
Last pic showing my two most used squares. I started with the empire square, but was never fully confident it was 'square' and purchased the woodpecked square. At almost 6 times the price, it better be square (I hope).
Now, I am pretty happy with my empire square since it is quite square at this point as referenced off of the woodpecker square. It loses a bit of squareness as you extend the length of the square.
Ultimately, I think feeler guages will give you an acceptable reference vs. aiming for virtually 'No light'. As demonstrated, even a 0.001" shim can show light bleed through. I suppose it all depends on what is acceptable to use for whatever your purposes. A 0.005" difference on a 12" crosscut is perfectly acceptable in most case scenarios.
Cheers,
John