George,
Looks good to me. That should do the job for sure. The only thing I would add is, when you make the cutter, if you could reference the flat end of the cutter such that you know where the center of the cutter is relative to the its end face. If you did that, you could touch off on the .093 pin, and then dial the Z down by the known amount, and be on center in the Z. If you're making your own cutters anyway, that shouldn't be too hard to do.
Dave