Calico,
Locating the spindle center point can be done several ways, I use an electronic probe or a mechanical edge finder to locate the edges as necessary. Depending on how careful I am, I believe I am within several tenth's (.01+/-mm).
As for doing this process every time you power up, I am not sure, but think Mach3 will remember your settings. However, how sure are you that the machine knows where it is when it powers up? It might remember the offsets and you can set the home point (G53) and be back in business. You just need to try and see what happens. As I said in the beginning, I don't use Mach so cannot comment on that.
Regards,
Art
AKA Country Bubba (Older Than Dirt)