Mike,
I believe that Hardinge published some useful details [I will post the link later, if I can find it]
Basically, however, all the 'Watchmaker style' collets are strictly 'single size'. … There may be a [very small] proportional relaxation in tolerance with increasing size, but: In the sizes used in a Watchmaker's Lathe, the number on the collet expresses its bore in tenths of a millimetre, and good practice is to only hold diameters within +/- one quarter of one size increment … Yes, this means that material is skimmed to an acceptable size if needs be.
The 'problem' is that the collets are only slit from one end … sketch the geometry of clamping oversize/undersize material, and you will see the inevitable.
MichaelG.
.
Found it [easier than I expected] … Hardinge
Edited By Michael Gilligan on 17/01/2016 11:36:19