I know what you mean about the diameter business, but since I started using a modified B&S scissor knurl tool off a screw machine I haven't had any tracking problems.

Mostly I knurl in the CNC. For most materials I run around 800rpm, use a very fast feed and get the knurl off the part as fast as the machine will rapid. I run the knurls dry, with a shot of coolant prior to engaging the workpiece to lubricate the roll pins. Just finished a run of 316 SS parts, 3/8 diameter stock knurled 1.5" on the end, 3 seconds cycle time for a coarse knurl. I don't see how anything other than an opposed scissor knurler could do this job.

The tool Daryl is asking about is a cut knurler, it actually cuts instead of displacing material. I have two of those type and have never been satisfied with the results. The cutting is not an efficient process so the knurl pattern does not have the crisp quality of formed knurls in my experience.

Take a 1" diameter bar, it has a circumference of 1 x Pi = 3.142"
Now take a knurl wheel with a pitch of say 40 thou 3.142 / 0.040 = 78.55 tpi
So yes this wont match up. But now reverse the maths and find the diameter of a bar with a 40 thou circumference which is circumference / Pi - 3.142 / 0.04 = 0.013"

So on our 1" bar we know that every 6 thou of infeed will create one less tpi, remember we are working on diameter so it's halved. So when you get an out of pitch knurl you can only be 6 odd thou away from a perfect knurl at the most.
From the original calculation of 78.55 it's obvious that an infeed of only 3 thou will match up.

The moral behind all this complicated and unwanted maths is
JUST WIND THE BLOODY THING IN TO GET A GOOD KNURL.
You can't just kiss the surface anyway so you have to infeed. This proves a very small difference of infeed WILL produce the correct knurl WITHOUT having to fath around with tables and skimming surfaces.

Of late I have had a few production jobs where the knurled surfaces were specified to close tolerances. Not a problem, though.

I set up the knurling head and run a few tests to check the knurled diameter. Then adjust the blank diameter to give slightly over the print diameter on the knurl. Then run over the knurl with a positive rake turning tool to bring it to exact size. This way you can create knurls within a few tenths on diameter.