I have in front of me a Waltham "Home Watch Co." and I have no idea how to set it? It is a full plate, key wind, 7 jewels and in perfect running order! I am reluctant to take the movement comletley apart but I have removed the dial only to find the minute & hour wheels, plus the mainspring click. Sorry, but I cannot currently post pictures. Serial number is 338155. Any ideas?

The hands are set by using the key. You should see that the end of the cannon pinion, where it projects through the minute hand, has a square on it for the key.

Here's a picture of what Jerry is talking about. (One of the current projects I have on my bench is a very close relative to your watch -- Home Watch Co #339958.)

Thank you Jerry.
Dave how easily does yours set. I feel like it's giving me a little to much pressure when I try setting it?

It should be fairly easy. If not, someone may have overtightened the cannon pinion or some corrosion may have developed between the cannon pinion and the center wheel arbor basically locking them together. Basically the cannon pinion should be just tight enough so that it won't slip on the center wheel arbor during the normal operation of the watch but will slip when you put the key on it to set the time. You said you had the dial off. Are the minute and hour wheels free?

Yes, the minute and hour wheels slip off easily. But, as you said, the cannon pinion is pretty well attached to the center wheel arbor. Look like I might need to over haul this one after all.