None of the centre lathes in the Apprentice training school (DSG, Edgewick ) in the late 1950s had graduated Saddle hand wheels, as far as I can remember. Cannot remember using anything other than a depth mic.
My 12" swing dual dialled Chinese lathe (BL12-24 = Warco BH600 / Chester Craftsman; made in 2003) has a dial on the Saddle Handwheel.
It is reasonably accurate, rather to my surprise. The vital components are a 13T 1.5 Mod, gear engaging the rack, driven by what look like 1.5 Mod reduction gears in the Saddle.
If I want greater accuracy, I use a shop made Micrometer stop, using a M&W micrometer barrel which, judged by the configuration and graduations, seemed to have been intended for such a task..
For its ML7 predecessor, I made up a Handwheel for the Leadscrew, with 125 graduations. ( A Picador wheel using the optical dividing head in the Standards Room,and a vernier height gauge, in the Standards Room on a Saturday morning!)
For the mini lathe, I made up a graduated Handwheel for the Leadscew, based very heavily on the design (In concept if not exact dimensions ) shown by Alastair Sinclair, (just reprinted in MEW 296 )
Howard