Please tell me your kidding. You'd actually measure bearing tolerances with a set of calipers? No chance in the world for consistency and your instrument measures to the nearest .001 which isn't nearly acurate enough.
Please do yourself a favor and go to production tool or J&L and get the cheapest 2-3" Micrometer they have. Try to get one in that reads to .0001 rather than .0005, and for the love of god don't use plasti-junk. Even if you don't have a good feel, which as a new guy you won't, many mic's these days have ratcheting thimbles. So they will apply the same pressure every time, which aids in accuracy and consistency.