Let's try this again...
1. If the nut is supposed to be tightened to 4 Nt-m, what will the torque wrench read when the nut is properly torqued? BTW, the torque wrench is calibrated in Ft-Lbs.
(4 N-m = 2.952 Ft-Lbs)
If force is applied at a distance equal to the length of the metric wrench...
2.952 Ft-Lbs / .75-ft = 3.936 Lbs of Force at point "B".
That is, a force of 3.936-Lbs applied at a distance of .75-Ft will produce 2.952 Ft-Lbs at the nut.
Now, if we assume that the nut is already tightened to 2.952 Ft-Lbs (exactly 4 N-m) then, if we were to apply 3.936 Lbs of Force at point "B" there would be no further motion on the nut and no futher increase in the torque applied to the nut. The resisting force at the nut and the force applied at point "B" would be in equilibrium.
Since point "A" and point "B" are in equilibrium... with 3.936-Lbs of force applied at point "B", in a CW direction relative to point "A", thus developing 2.952 Ft-Lbs of CW torque at point "A"... it would be just as true to say that 3.936-Lbs of force are being applied to point "A", in a CCW direction relative to point "B", thus developing 2.952 Ft-Lbs of CCW torque at point "B".
The CW torque applied to point "C" needs to over-come the CCW torque at point "B".
Since the CCW torque at point "B" is 2.952 Ft-Lbs, the torque developed by applying force to point "C" must develop at least 2.952 Ft-Lbs of CW torque to equal the CCW torque. Since the torque wrench is 1-foot long, the force required is equal to the opposing torque... 2.952 Lbs thus developing 2.952 Ft-Lbs.
Any additional force will increase the torque beyond the required 2.952 Ft-Lbs.
2. Does it matter whether or not the handle of the torque wrench is parallel to the handle of the open end/box end wrench?
Absolutely!
2a. If the answer to qustion 2 is "yes, it matters", what should the torque wrench read if it is at a 30 degree angle to the open end/box end wrench?
Effective length of the torque wrench is (12 COS 30)" = 10.392" = .866-Ft
2.952 Ft-Lbs / .866-Ft = 3.408 Ft-Lbs
3. Does it matter where you grab the torque wrench when you're tightening the nut?
A: NO. If you grab-on at the end (assuming a parallel alignment), you only need to apply the actual required pounds of force; 2.952-Lbs of Force. The indicator will show 2.952 Ft-Lbs of Torque.
However, if you grab-on closer to the head, then you will need to apply more actual pounds of force. The closer to the head, the more actual force is required. However, the indicator will still indicate the "effective torque". You need to apply whatever force is necessary to produce an indication of 2.952 Ft-Lbs of torque. The indication is based on the assumption that the user will grab-on at the handle.
As you grab-on closer to the head you have to apply more force. If you grab-on at the common point (point "B") then you have to apply 3.936-Lbs of Force (3.936-Lbs x .75-Ft = 2.952 Ft-Lbs). However, the indicator will show Zero Ft-Lbs because no force is being applied through the torque wrench.
If that ain't right Steve... please don't keep me in suspense.