You need to line up wherever, and however, the line gets you to your shot. In other words - if you're right handed, using a spare ball to pick up a 7 pin - you're probably not going to go straight down the 40 board. So whatever angle you're going to use - line up so that your swing is in line with the line to the pin.

Same holds for the strike line - but straight through the breakpoint.

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If winning isn't important,
why do they keep score?
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Vince Lombardi

I've heard the terms, stroker, tweener, cranker. I wasn't to sure of there meaning. I said cranker because a few local bowlers have told me that a stroker is 200 or lower, tweener 200-300 and cranker is 300+ in terms or rpm. I'm not to sure on the correct definition of each. Could you please school me!!!
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Hey Chris, I'd like to order a 300 in a box, Please!!!!!

There are as many different spare-shooting methods as there are types of bowlers.  You should try a few to find the one that gives you the most room for error, and makes you feel comfortable lining up for spares.

The one I've been practicing lately is to use the same arrow for all your spares, and move your feet around to achieve the desired results.  As presented by Susie Minshew in "Focused for Bowling", by Dean Hinitz, you use the 4th arrow as your target.  However, I've settled on the 3rd arrow for the 4-7, the 2 and the 3 pin, while using 18 for the 6-10.  I stand on 16, 19, 22 and 35, respectively.

This is because I am extremely right-eye dominant, and when I line up for left-side spares using the 4th arrow, I feel like I'm going to throw the ball straight into the left ditch, so I'm more comfortable looking at the 3rd arrow, which appears to me to be in the center of the lane.
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seadrive
Cogito ergo bowl