Hi Everyone!
This may be a stupid question, but should I use the prob to calibrate a 1/32 drill bit? Or would it be wise to manually set the xyz axis? Just bought my first 1/32 drill bit to cut out some inlays for my first guitar build, and wanted to make sure that I wouldn’t snap a 40 dollar drill bit. 
I probe 1/32" endmills for Z height but never for X and Y, for that I use a .250" dowel pin.
So you use the metal box probe for the Z axis?
For 1/32" bits my go to is ebay. They sell name brand ones for making holes in circuit boards for cheap. I think I paid less than $10 for a 5 pack. Like Derek I probe all 3 axis with a 1/4" bit or rod and then reprobe the Z axis after the bit change.
I meant end mill and not drill bit.
I just bought a $50 Amana 1/32 bit for plastic. I too am worried about breaking the bit. Good advice on the XY probe with a ¼ dowel.
So, it sounds like a Z probe is OK.
What about feeds and speeds?
Do you go with the tool database or slow it down?
Another question.
On the XY probe with a ¼ dowel….
Should I always use a ¼ dowel? Is this a best practice?
I use my 1/4 inch (6.35mm) end mill or ball end mill to probe XYZ and rough out my projects.
Then a tool change and just probe Z the for the 1/32 inch.
I think it is neither safe nor practical to use a 1/32 for probing XY.
I probe all 3 axis when using a 1/32" bit. The machine stops immediately once electrical contact is made. Never had a problem. In fact I’ve never broken a 1/16" or 1/32" bit even though I bought 10 packs of each off of ebay.
I see. Do you use the shank diameter (probably 1/8") or the cutting diameter (1/32") for the XY?
My 1/32" inch bits are very short, so the shaft will probably touch first?