I'll toss this idea out, even though I admit it is a little bit off the wall
RE: jogging in Z for tool setting: For me, this is a continuous repetitive list of motions: push .1 (jog increment), jog down near, push .01 jog closer, push .001 jog even closer, push .0001 to get the final touchoff.
So what my suggestion (for discussion) would be this: for each reversal of the feed handwheel, the jog increment automatically drops down one 'notch'.
So you might begin at .1 increment, rotating the handwheel to bring the tool down, pause and reverse the handwheel by some amount, then continue downwards again, but now the jog increment has auto stepped down to .01, and so on.
At any time, this can be overridden by pressing the jog interval of your choice. Whenever the jog increment has auto stepped all the way to .0001, then it stays there until you push an increment button to change it.
I don't know the details of how it would be done, but that is what I think I'd like. It might be handy in X and Y, too, but perhaps a button option would be necessary to enable this or disable it on the spur of the moment, nothing as arduous as setting a parameter to make it behave this way (or not).
BTW, make this software change backwards compatible for machines back to 1995