Will it be accurate/reliable?

I picked up a Renishaw MP3 off ebay, and was thinking of getting one of the disc probes to use it as a tool height setter. I see some of the cheaper probes have an attachment to use as a tool height setter and was wondering if I could do the same.

I'm going to have it mounted in a TTS holder and figure I'd thread the ID and machine a block to hold it upside down on the table consistently.

Just wondering if it'll work before I actually make it.