Great points and good feedback. Thanks.
Bottom line is most shops won't have the ability to check, unless they use the wire method, which would probably be time consuming and costly. I like the Tru Position Indicators. However, we farm out our manufacturing and most shops probably don't have anything like this. I am going to forward the website to some.
I design downhole tools which are generally made from tubular products with straight threads and seals for connections between parts. It is critical that the threads stay concentric to both ends of the part to some degree. If your thread OD or Bore are spot-on with your pitch diameter, as I would assume they are, then perhaps they can be used as a positional reference. I don't know.
The attached is a very short and simple downhole release tool used to latch and pull equipment from the hole and release during circulation of brine or drilling mud. Most parts are much longer and have more tubular layers nested inside.
We have not used GD&T in the past and have always just specified, "Ends concentric within .003 TIR" or " Ends A and B concentric...." The GD&T is applied different within all our R&D groups.