I was playing with this to see how accurate it really is.
I drilled a tiny hole in aluminum with the tip of a 1mm drill with a sharp chisel point. I then put the optical center in a collet to see how well the mill spindle lined up with the reticle.
It was a little hard to photograph but...
View attachment 512558
I would estimate the OD of the hole to be no greater than 20 thou. so I am probably within 1-2 thou of center? I could adjust this closer but this works for me. It is similarly centered when I rotate the spindle 90 deg each way. Is there another test I could consider?