Ok - got home a bit earlier than expected so did some test cuts for measurement. Given the vice is not very good and getting metal to sit in flat in it is a bit of a fight I think measurements of within 6 tenths isn't too bad. That would be about 0.015mm I think.
Once I get a better vice and have things fettled in I mght be able to get a bit better. But for what I plan to use it for 0.01mm will be dang good and anything better than that is a bonus.
I also did a test to see if I got a close measurement change based on the 1 thou increment on the head down feed and that looks to be pretty close. If I need to be super accurate I can quickly mount a DI on an arm to check the down travel is exactly what needs to be dialed in. I also plan to look at if I need a way to lock the gib on the head. It has 3 setscrews and I am wondering if replacing the middle one with a T handled screw that can be kept snug then tightened for clamping. I'm not too keen to drill another hole if I can come up with a way to avoid it. Assuming I even need it.
Cheers - J.