Should point out that in a normal environment, you don't use the calibration standard for measurement purposes, such as checking finished parts. You'd use calipers or someting similar. These are at best secondary standards, so they're a 4:1 ratio from the primary or secondary standard, which in turn is 4:1 ratio from a NIST standard.
Therefore, the NIST standard could be as much as 4x4x4=64 times smaller tolerance than anything you're actually measuring.
For linear distances, the above is quite easily obtainable, since distance measurement is reasonably accurate down to the submicrometer level. In other areas, 1% relative accuracy is pretty darn good. TTFN