Hmmm... nope. Because without micro adjustment I know I would spend all day mangling the inside of my guitar trying to get a door bolt in the right place. :lol:
I mean if you've got the patience and know-how to get something spot-on, then fair do's to ya. I simply don't and therefore spent a lot of extra money on convenience.
well, if you set your guitar up properly, so the bridge is perfectly level (and i do believe if you position the bolt correctly, there would be room enough for a 3rd spring), you just need to set it to the block (and to eliminate rattle, put a little superglue and a rubber pad on it), mark the holes, drill them a tad and just screw the bolt in.
IF you position it right, so that there's a 3rd spring in there, it'll hold down the arm of the bolt too, so it doesn't come lose, but there is potentially enough room to manipulate it (saying potentially, cos i haven't tried it myself, but i might :D )
Now, you could also do this; there is some room for improvement here. The screw holes that hold the bolt down, you can drill them out a bit (make them longer) so you have 1mm of room to micro-adjust the whole bolt assembly. The 4 screws are enough to hold it perfectly in place, if you don't over-tighten them.
I'm seriously thinking of trying this on one of my guitars.