I have a set, and a M and W catalogue which lists and describes these.
The test piece is a piece of plate glass and the test is to lightly press a straight edge against the glass and hold both up the light to see if any light comes through.
I read somewhere that a gap of one tenth thou inch will shown as a coloured light (I can't remember what colour!) and a larger gap will show as white light, assuming the background light is white.
My set seem to be very good when I try this test, probably because they were well made originally and I don't use them much. I suppose a professional toolmaker using them repeatedly would need to test to be sure his set were not wearing.
Rod