Quick way for the inexperienced to get close is to mount a "probe block" in the toolpost and use the cross slide dial to calibrate the adjustment. Not something to keep doing forever but its a solid training method to get the technique nailed, the "feel" established and the WTHIGO thing sorted.
Actually easier if you start off visibly out.
Process:-
1) Pick one pair of jaws and spin the work so that pair of jaws is horizontal with the work error towards you.
2) Run the cross slide forwards until the probe bar touches the work making sure the contact area includes the centre line.
3) Zero the dial.
4) Spin work 180° so the error is away from you.
5) Run the cross slide forward till the probe bar contacts and note reading.
6) Pull back cross slide then move forwards until it reads half the error.
7) Adjust chuck until work contacts the probe bar.
8) Repeat with other pair of jaws.
9) Set up indicator and finally dial in using the same process. The indicator provides calibration so its much easier.
Remember that the upright chuck jaws only need to be tight enough to stabilise the job. It has to slide without marking.
Verdict lever type indicator sets have a nice bar and upright post device for toolpost mounting. Ideal for this process. Use the bar as the probe then mount the indicator to finish off.
Using the bar as a probe and cross slide as a claibration device makes things nice and solid so its easy to get used to the process.
After about 5 goes or so most folk have the knack sorted and outgrow that process.
I reckon to get close enough to put the Verdict up by simply looking at the jaw positions in relation to the scribed circles. Three turns round and I'm done to tenths thou.
If its a ruff job eyeing up against a tool will get me into the 3 or 4 thou TIR region.
Clive