yep, (1/2)^(1/2) * 30 = 21.2hz. other common folklore estimates are:
1/4 octave below: (1/2)^(1/4) * 30 = 25.2
1/3 octave below: (1/2)^(1/4) * 30 = 23.8
5hz below tuning: 30-5 = 25
3/4th of tuning (about 2/5th octave down): 0.75*30 = 22.5
notice that all of these fall within a few Hz of each other, and that the pot is probably not labeled enough to tell you what you actually set it to.
not that it matters too much -- all the numbers above are just what other people have tried one other setups that are not the same as yours.
there really isn't too much point in trying to accurately set the SSF to a number that is just a guess. so long as it works, you'll be happy and attribute it to some "proper" setting that you really didn't do. if it doesn't work, you'll just adjust it up a bit until it works, and assume that you didn't set it to the correct value the first time. in the end the result is the same.
edit --
for reference, fractions of an octave follow the same rules as whole octaves. if you go up a half octave, then go up another half octave you reach 1 full octave up from the orignal point. eg:
20hz
1/2 octave up = 20* (2)^(1/2) = 28.28hz
1/2 octave up from 28.28hz = 28.28* (2)^(1/2) = 40hz.
if you use the "aritmetic" fomula 20 + (40-20)/2 for finding half octaves you get:
1/2 octave up = 30hz
1/2 octave up from 30hz = 30 + (60-30)/2 = 45hz
45hz is not 1 octave up from 20hz. 40hz is. for the most part no one deals with quantites below 1 octave, and if they do, they use a look up table and don't ever need to calculate the values for themselves.