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Dial Indicator

A cheap import magnetic base with .001 reading 1" travel indicator is all you need to start with and will be much more useful than your link. Should be able to get same for about $25 total + shipping ,from the usual eBay sellers. With some experience you can determine if a better quality base/indicator is needed.
 
I made myself a magnetic dial indicator base similar to this mighty mag>Mighty Mag Magnetic Base - Magnetic Sweepers - Amazon.com

I prefer them over the kind that clamp to the ways. If i crash the carriage into the dial indicator it just pushes it out of the way with the magnetic kind. Also i just use cheap dial indicators like the one in the link on my mine since i don't do a lot of work where i need it.
 
Ah,
...
1) how accurate is the machine 2) how accurate do you need parts.

( 3) how much money do you have?

Your choice of measuring equipment will fall somewhere on a Venn diagram of the above.
 
I made a bracket to mount a dial indicator to an AXA toolholder. Just a 1/2" horizontal bar with a flat piece attached to the size and a bushing to hold the indicator away from the flat bar. You need the flat piece to drop the centerline of the indicator down or you won't be able to get it onto the centerline of the part.

Swapping it in and out is a breeze and it's always on center.

Also have one with a more precise test indicator when I need it.

Steve
 
The cheap mag back ones are really useful for carriage travel. I use mine in place of a stop.

For centering, I have a different cheap gauge that I rig off the tool holder with a rod and a snug. I'm running a lantern post, so the rod replaces the bolt that clamps tool bits in and the indicator hangs off that. I put the indicator on the top side since its easier to center. I should just make a spacer for the mag back indicator to put it on center height with no fiddling.

I use the crap indicators for this in case they get fouled up with cutting oil or chips. I have better indicators if I need them but I can't abuse them without feeling guilty.
 
Get one of the articulating style holder if you can, name brand that's most populat is Noga (not cheap), but the import cheap ones do OK for a while.

I use an NOS B&S 1" travel at work, felt really bad when a hot chip melted into the indicator face. The other guys at work, that are actual machinist, hardly ever use good 1" travel indicators. Surprising how some of the dirtiest, most beat up cheap indicators work very well for dialing in cuts and setting up stops.

I love those mag back indicators for travel stops.

Now test indicators are a different story, I'd get a good one of those.
 
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