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I bow to your superior knowledge. So that makes the example better, since 1/8" was the original dimension and apparently it converts to a daft number that no one would have started off with.
I took the figure as '3' because that is the number stamped on TA 1/8" rings, but I expect your Simplex figure is more accurate. This shows how easily errors can get into a system.
I understand ( although this only hearsay ) that the reason for the inconsistent sizes of conventional head set races has arisen because of inaccuracy in converting from imperial to metric. That's to say, they were originally imperial, but when these parts were made in other countries the dimensions were metricated, but not in a good way!
except that 1/8" equates to 3.17mm.
I know that well from looking for a specific Simplex TdF rear derailleur. They were often stamped with the number of gears and the chain width each version was designed for.