The upright rule certainly works, as does facing till you get no centre pip. I used both methods successfully for many years – and still do so occasionally when it's convenient/quick to do so.
But the rule method doesn't always work for some set-ups and if you change or move the tool mid-operation (break the tip on your diamond toolholder bit for instance) – you can't always just machine a pip mid-operation and of course neither work well for setting up boring bars…
So, what I (finally) did for both my lathes was to just turn a piece of scrap stock true (can be anything, any diameter) and with it still in the chuck/collet – measured its top-height from both the bed, cross-slide and top-slides using a Vernier height gauge. Subtracting half the turned diameter from these measurements gives you the key centre height references for your lathe and enables you to set-up simple height setting gauges and other work-holding devices very simply. You only need do it once and note the results for future use…
Regards,
IanT
Edited By IanT on 27/06/2019 09:07:12