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Yes I have one and it is a very nice indicator. I think Tom was refering to the dial markings which are .0005 (half thousandths). The actual accuracy of the indicator is the amount of distance to move the probe and show up on the dial. That should be at least .000050 or smaller. If the spindle runout is around + or – .0001, the lathe will be OK. This means that if you put the probe into the spindle taper and the dial moves only a tiny amount when you rotate the spindle, the runout is acceptable.