Bill,
Yes that is correct, if your software will allow it. I am running Calypso 2.4.32 and it will not allow a radial point or a 3D point to be toleranced with true position so I have cheated a little and make a theoretical coord system and then I can tolerance with a TP calculation (ref to 0,0,0). I can then recall that point relevant to my base alignment and report where it is to whomever needs to know.
Duane