I will also say that the bearing on a rod is a good solution, it is certainly the one I use 95% of the time on my Boley & Leinen (BCA) jig borer.
These are what I have custom made for my my machine and it is the one on the right with the 1/2" diameter ball race that gets used all the time.

I also have similar ones mounted on plain round shanks that I use in collets on my Alexander milling machine.
I can usually rely on getting within .0005" using this type of edge finder and for most jobs that is more than acceptable. I have a few other ways of getting better accuracy, but this thing is just so easy to use along with the DRO.
Very easy to make and use, all you do is just move it until the outer race touches the work and stops spinning, that is where the spot of paint on the edge of the outer race comes in handy so you can see when it stops spinning easily. Then subtract half the bearing diameter to get your spindle centreline over the work edge.
Phil
Edited By Phil P on 14/11/2019 20:53:54
Edited By Phil P on 14/11/2019 20:54:13