Phil,
Dont mind constructive criticism one bit this was about the third incarnation of the pointer getting something that thin <14 swg to stay flat after cutting was fun I might extend the pointer as you say there is room I could perhaps solder a leg onto the top half? the commercially made ones are made that way.
Chris,
Absolutely correct no graduations only by eye, I can imagine it would be be better with a scale of some sort if I make a MKII I may do that but as it stands if I need something more accurate I put it in the Bridgeport and use a Coax indicator.