Colin, I don't think you should need a DTI, there's a 2:1 difference and you should see that with a rule! If you nip the rule in the tool post and improvise a pointer in the chuck – a nail would do – position the rule so the pointer is on a fiducial mark, zero the dial, then wind it in one rev. It should read 5mm or 2.5mm depending on the lead.
Some extracts from the thread I linked to earlier:
Muzzer:
"The Colchester Bantam also reads directly in terms of diameter reduction. Once I realised it is fitted with metric leadscrews and dials on the cross slide and topslide (but has an imperial main leadscrew and gearbox!), I was able to see that the dials indicate direct 0.1mm (major) and 0.02mm (minor) increments. I was confused for quite a while by the mixed units, although it seems to be a common situation on Bantams, many of which were supplied to schools.
I measure the actual diameter with a digital caliper and dial in the required final cut directly. Works as intended.
..and later..
…My Bantam cross slide dial measures directly in mm diameter increments, so I can now dial in the required additional cut directly. If I'm feeling paranoid, I can take several cuts and confirm that I am approaching the final diameter from above by using the calipers after each cut.
Murray"
John Stevenson:
"All my lathes are diameter mode.
So are all my drawings
So are all my DRO's
Which then leads me to ask if you have a radius dial on a machine do you program the DRO to also read in radius ?
and
After working on more lathes over the years that I can shake a stick at a few things I have noticed but not exclusive.
The bigger the lathe the more chance it's in diameter mode.
European lathes tend to do diameter more than small lathes or American ones.
Lathes like the Myford probably went radius as it's hard to do diameter dials on small machines due to size restraints and dropping the pitch from 10 to 20 means it wears out quicker."
So some Colchester lathes do work in diameter mode and it may be that different versions were available. If they hoped to export metric lathes then diameter mode would be more attractive.