Which kind? The runout indicators with the lever input which moves in an arc, or the ones with a shaft passing through the back which moves in a single straight line (plunger style)? The former are designed so they provide accurate measurements only at a specific angle of the lever to the workpiece surface. They are mostly good for relative indications (e.g. runout while you are truing something), not for absolute measurements. The plunger style, however, is a bit better, with no cosine error to deal with (if properly mounted).
Even the Chinese rectangular gauge blocks are spec'd to be within 0.000,050" (half a tenth), and I would expect them to meet that spec, so you are unlikely to have a combination which will come up to the resolution of the dial gauge unless the distribution of the sizes is really bad (not a true bell curve).
However -- other sets can be purchased down to 0.000,002" IIRC, at significantly higher cost. No need for these for my suggested use, of course, since the dial indicator is a 0-1.000" one graduated in "0.001" steps.
Amen!
Enjoy, DoN.