What I would do is level on the plain the hole lies onto, take a fast measurement on the hole at nominal thickness 0.65/2 and make an alignment on the hole. Then I would take a sequence of points in a line following the axis of the line from +0.1 to -0.1 of the tolerance (depending the tolerance I would choose these limits and distance between the points). I would then search for the smallest PR (polar/radius) value between the points and maybe repeat in other sides. I would use the TZ (theoretical Z) point with the smallest PR value as the target value for my final circle.
what side is the shear on? When punching or trimming sheet metal, one side of the stock will have shear, the other side will have break, the shear side is the side the punch enters from, and will be the size (within microns) of the punch, this is what you need to measure. If you are checking from shear side, use a small depth (generally, 10% of stock thickness), it you are checking from the break side, use roughly 90% of stock thickness.
