You will find that an integral collet stop on 5c collets is dependent on the pressure applied when tightening the collet. Too slack and you will cut short, too tight and it will cut long. I always use a marker to mark the position of the chuck key, and this gives fairly repeatable results. This is all dependent on the pieces having exactly the same O.D.
The only positive way of getting a totally repeatable collet backstop is to make a spindle backstop and extend it thru the collet chuck and collet. But of course this will only work if the spindle is free of endfloat, unlike Wes, who has a bit of work to do to get his sorted.
The easiest way of doing the small quantities that you are doing, is face each end, measure to find amount to remove, with the saddle locked and by using the compound, touch on with the facing tool, and wack it off. A lot more accurate and easier than playing about with stops.
John