Using an edge finder like John does, except I just zero the DRO on the first side, and go across and whatever trips the EF, divide it in half and go to that figure. Center. If the part diameter is so large I can't get to -Z- center, I just use a stop on the quill and go to the same point in -Z- on both sides. Using only the "corner" of the EF still works the same. I've worked to within a couple of tenths this way, when pressed. That accuracy is never required on a drilled hole, however. Reamed, maybe, bored, perhaps.
I think though, that the original question was about doing it in a lathe. Those cross-drill attachments are a slick way to do that. Still have to set them on centerline of the machine, but once that is done, it shouldn't change appreciably. I wouldn't say it would be good for much better than 0.005 though.
I think though, that the original question was about doing it in a lathe. Those cross-drill attachments are a slick way to do that. Still have to set them on centerline of the machine, but once that is done, it shouldn't change appreciably. I wouldn't say it would be good for much better than 0.005 though.