That sounds like it would work well for most indexing. And very simple!I originally saw that procedure shown in a very early edition of HSM magazine and they used a weight and cord wound around the spindle to keep it in place against the stop.
they're both magnetic, the 2nd one only looks like it's bolted. I saw another approach that combines both. A cylinder hinged at the center height to approach from top or bottom, I think I'll be cloning this one:-The above are good ideas instead of guess-timating or using other devices/methods. New lathes and most competent shops had a small block/cylinder that was the center height of the spindle at the ready. It often got misplaced, lost, or became a component for something else. For lathe owners it should be your first project IMO, just takes some measuring and a little math. Bolting it to the lathe cross slide is convenient but will be dangerous if the "birds nest" from turning hooks onto it. A dead center can also be made cheap/easy/simple in the lathe chuck for center height but doesn't help when you have to change the cutting tool and don't want to remove the workpiece from the chuck.
variation of 1st video but w/captured ball bearings instead:Three boring head tricks on a lathe:
Boring Head Tailstock Offset for turning tapers w/o readjusting your tailstock [you can skip much of the work buying a screw on boring head with a morse taper arbor to match your tailstock]:
Turning balls using a quick change:
variation of the above w/increased offset & worm gear anti-backing:
Boring but that's boring. The novel thing here is not using a chuck but taper for max concentricity I suppose. You can throw small stock into a tool holder if you don't have a milling attachment: