We test analytic predictions from different models of magnetospheric accretion, which invoke disk-locking, using stellar and accretion parameters derived from models of low-resolution optical spectra of 36 T Tauri stars (TTSs) in NGC 2264 (age ∼3Myr). Little evidence is found for models that assume purely dipolar field geometries; however, strong support is found in the data for a modified version of the X-wind model which allows for non-dipolar field geometries. The trapped flux concept in the X-wind model is key to making the analytic predictions which appear supported in the data. By extension, our analysis provides support for the outflows predicted by the X-wind as these also originate in the trapped flux region. In addition, we find no support in the data for accretion-powered stellar winds from young stars. By comparing the analysis presented here of NGC 2264 with a similar analysis of stars in Taurus (age ∼1–2 Myr), we find evidence that the equilibrium interaction between the magnetic field and accretion disk in TTS systems evolves as the stars grow older, perhaps as the result of evolution of the stellar magnetic field geometry. We compare the accretion rates we derive with accretion rates based on U-band excess, finding good agreement. In addition, we use our accretion parameters to determine the relationship between accretion and Hβ luminosity, again finding good agreement with previously published results; however, we also find that care must be taken when applying this relationship due to strong chromospheric emission in young stars, which can lead to erroneous results in some cases.