For most of my drilling let me just say that I co-ordinate drill using my DRO.
In cases like clock frames though I simply blue and mark using proprietary tools - i.e. a depthing gauge.
The depthing gauge works best if a small centre pop'd mark exists in order to more easily register the point of it's shaft, then I draw the arc, mesh up the next gears and continue.
The centre pop is done as Jason says above. You can feel the intersection of the arcs with it's point, then keep it dead vertical and a light tap - you hardly need to be able to see it.
Inspect it and if necessary you can adjust it slightly but with a bit of practice you won't need to.
Then I put the frame on my mill (I use the mill because it's easy to move the frame accurately).
In your case with a 0.8mm drill I'd be happy to line that up by eye - although I find it much better to do it whilst it's spinning, otherwise the facets of the cutting edges can throw you.
But for most stuff I use a wiggler set - in particular the pointy tool (follow link for an example)
Wiggler Set on AmazoneYou put the wiggler in the chuck, spin up the machine and just lightly touch the pointy bit with a pencil, this will make it run true and the very sharp point means that with my now obligatory magnifying goggles I can (according to my DRO) see an error in the order of a couple of tenths - providing I wasn't too heavy handed with the punch...