We zero everything at the phlebo axis at my place and everywhere else I've worked. As my understanding goes, that's the current school of thought in most literature (I'm not one of those ppl that has a works cited of books to quote off the top of my head, so Im just shooting from the hip per-se).
And in relation to the other posts on the topic of alines vs cuff...at my place we use the aline if there is a good waveform and good square wave test. We typically follow the aline if there is about 5 - 15 mmHg difference higher than the cuff/nibp. However whats neat about our bedside monitors is that in the cases where one has a good waveform but the darn aline doesnt correlate at all no matter what we do to troubleshoot....we can dial up/down the aline reading in the monitor to make it match better. Not sure if I explained that right or not...Im tired and just got off work
Hope that helps!