I have no experiance with lazer levels. but from what i have seen you get a rather large red dot, and i think it would be difficult to acurately determin the centre of this. I do however have an optical level that is very easy to read your target (could be a rule on a magnetic base) the level will only focus if it is about 1Meter or so from the target but it does offer good magnification on the target, ideally you need a precision straight edge and precision level.
Regards
Mike