Old school machineshop work used dial indicators instead of digital readouts for precise location of the tool. You dont just use your dial indicator to locate the work in the 4 jaw chuck but to also locate the tool precisely in relation to the stock in the chuck. The accuracy of work produced on the engine lathe by this method is incredible and still in use to this day in machineshops around the country and even the world if I was a betting man.
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