I have built plenty of complex machinery. It's actually significantly easier for me to source 50mm flywheels/pulleys, or v-belts, or whatever, than it is to try to get someone to give me reasonable tolerances on imperial.
While it's true machining is done to thousandths of an inch in the US, most of those machining tools are using chucks/collets/etc whose sizes/TIR/etc is all actually metric.
(IE the 1/2" chuck/collet/whatever is really machined to 12.7mm)