....
pretty straight forward, but the pointy end is supposed to be for finding
the center of holes, but for the life of me I cant seem to figure out how
this is supposed to work.

Does any one here know?

I was hoping somebody would give a better answer than mine. Seems you're not
getting an answer.

I've not seen anybody else do this, so there may be a better way. On a very
small hole, the pointed end will tell you which side you hit first as you
lower the quill. Make an adjustment and try again. When you're all the way
down, you're right over the center of the hole.

Karl