Where should the camera be positioned and at what height?
The camera should be level with the object and far enough away so that you can see the entire object at all angles of rotation. If the top or bottom of the object contains interesting aspects that you wish to highlight, consider placing the object on its side on the pedestal. You can then rotate the images in Photoshop and create an Object VR movie that shows the rotational spin as top to bottom rather than side to side. Another option is to place the camera slightly higher than the object in order to show the details on its top. However, this option may distort the size and shape of the object in your finished movies.