Just starting out or with limited funds, a plunge type Dial Indicator. It can do some of what the lever type DTI’s can do. I use a DI every time I use my lathe to measure carriage travel since I don’t use the top slide for that. I bought a good Starrett DI and magnetic base first, and went quite a few years before buying a couple of decent DTI’s. And they will do some tasks that a DI really can’t do, or not easily without more accessories like peak4’s 90 degree attachment. With more than a lathe and having a mill, a DTI as soon as you can. They can do a lot that might be almost impossible with a DI, do so easier, faster and much more accurate. Centering round OD’s & ID’s under the spindle with a DTI’s adjustable for angle lever is a big part of the difference.
Long Island Dial Indicator Repair has excellent information, but I don’t agree with there assessment about Mitutoyo DTI’s. Mine have been excellent. Although I haven’t yet used any of the Swiss or German DTI’s. However, DTI’s aren’t really meant as a tool for accurate linear measurements. I’d trust mine over a few thou, past that, the DI’s are more accurate. DTI’s are more of a zero indicated movement on the needle type of tool for most uses.
One metrology term is given far too much importance by many than it should. A tools resolution, if it’s divisions are within what the user wants or needs, the resolution it has after that should be ignored. It has zero bearing on the tools actual and far more important Repeatability and Accuracy. A tools Resolution does not mean nor does it have anything to do with how accurate it is. All it really means is how many digits there are after the decimal point.
I’ve got an extremely good Mit. digital caliper with a resolution and .0005″ digit. That’s wishful thinking to even think it’s that accurate because it isn’t. No digital caliper I know of can actually measure down to that level of accuracy just due to there mechanical design. On my gauge blocks I have seen it happen sometimes, but that’s random luck and proves that it can’t do so every time. Just because the display says so, doesn’t mean that’s what the actual measurement is.
Those cheaper magnetic bases are somewhat ok, and I usually use one for rougher tasks. When used on a horizontal surface, the magnetic force is just about enough. On a vertical or even worse, an overhead surface, not at all. It’s only how long and not if your going to have it happen, and almost for sure destroy any DI or DTI that it’s being used with. If I had to start over, I think I’d buy just the magnetic base from Noga and build all the rest if funds were short. A couple lengths of silver steel / drill rod, a bit of additional steel, lathe, mill, knurling tool and rotary table could replicate anything my Starrett or Mit. magnetic bases have.