It could be worse You could be on fire.
I use a magnet setup too. Got a dial indicator left over from my previous life as a Tool & Die Maker, but don't use it much. You can wear yourself out getting too accurate. Sorta like using 15,000 grit abrasive for sharpening. Overkill.......that's a good description.
Here's my shop made knife setting apparatus. It's obvious that this is an extremely high tech device. I used some 1" mdf scrap, 4 rare earth mags, and two 3/8 12" pieces of aluminum rod. I have some other mags that weren't as strong as the rare earth's on the opposite side that was a failed attempt. I switched to the rare earths and it worked great.
The way it works is I found top dead center for the jointer knives and scratched a line that corresponds to that on the fence. It's hard to see in the picture but it's there.
I then drew a line that corresponds to the center of the magnets and I align it with the line on the fence. The mags in the first pic aren't the rare earth mags, they are from my first attempt. The second shows the rare earths.
Here's how it works. I stick the jig on the outfeed side of the jointer and align the mark on the jig with the mark on the fence. The rods keep both of the mdf pieces aligned. I spread the jig apart so that I can have access to the jib screws. With the screws loose and the knives in place, I rotate the cutter head slowly. When the knives get close enough to the magnets they will pull them up to them. When this happens I know they are at top dead center. I then tighten the jib screws. My jointer is a three knife head and it takes about 10 min. to replace a three knives. Here's a profile shot of the jig.
John, I think something is sold just like that
If you don't take pride in your work, life get's pretty boring.
Rule of thumb is if you donít know what tool to buy next, then you probably donít need it yet.