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Its all in the cardsby Nate Ching "Guitarsmith"
So you've strung up your instrument and you've discovered that the action is still too high or the neck has up-bowed and it isn't what you originally measured. How much lower do you need to make the saddle? Here's a 'no measure' way of figuring how much more to shave off. I use a deck of playing cards and grab 8 of them. Stacked together tightly they measure close to 3/32" which is what I want (you may want more or less). Over the 12th fret if it takes 2 more cards (10) to fit snugly between fret and underside of string, then decrease the saddle height by 4 card thicknesses.
See the geometry? 4 cards at the saddle are equivalent to 2 cards at the 12th. Take off that much and your action should be perfect.
Aloha, Nate Ching dba Guitarsmith
263-2358 or GuitarsmithHi@aol.com