Alan
Interesting idea. Hafta say that I figured out something similar maybe 20 years ago and never convinced myself that it would actually work reliably. So I didn't try. Maybe I should have.
Way I see it its a question of controlling the errors.
Fairly obviously if you always engage the half nut so the drive always picks up at the same position on the bed with the chuck in the same rotational position it will always pick up the non-native thread correctly.
Potential errors are :-
1) Backlash in leadscrew. Running back to the same number on the dial each time locks the engagement point but theoretically actual engagement position in the leadscrew can be anywhere in the backlash region. Reversing back at least takes out all the drive slack. Something I didn't twig when I looked at the idea.
2) Spindle stopping position isn't controlled. Run down time will probably vary a bit as will the time and number of spindle turns between you dropping the half nut and hitting stop.
3) Number of turns you drive the spindle in reverse to pick up number 1 on the dial will probably vary.
Issue 1 probably isn't important in practice but I never saw a neat way to sort issues 2 and 3 reliably. Seems to me that changes in the number of spindle turns in run down and reverse back put an uncontrolled variation in relative rotational position of the spindle and screw for the half nut engagement position. I figured that errors adding up to more than half a leadscrew pitch shift would not be corrected if simply winding back to a bed stop before re-engaging the half nut. Effect would be similar to shifting a tooth in the drive train. Your run back under power to a dial number will clearly reduce errors.
I decided that the only reliable way would be to set a bed stop to define the saddle position when the half-nut was engaged and put a spacer between number 1 jaw on the chuck and the bed to lock the rotational position of the spindle on restart. This would seem to define everything but, obviously, with a random stop position there will be slight shifts of the engagement point along the bed. So long as the error is less than leadscrew pitch it would not matter. Looks like the foolproof technique would be to run lathe doing a dummy thread up to where the thread is to end then run back in reverse to the engagement point or thread dial number and reset the stop. All too much trouble.
Bottom line is of course whether or not such errors actually matter in practice. As it works for you it looks like a fairly major mess up is needed before it all goes wrong. Be interesting to know how much leeway there really is. I reckoned about half a turn of the spindle variation would kybosh things but that was my "wind back to stop" idea not your " finish up by reverse to dial number" technique which obviously takes a lot of potential error out.
Clive