First, it sounds as if Tudor considered my comments as a personal slight and nothing could be further from the truth so apologies.
Second, my 81% was a mis-calculation - I can see how I made the error - it should be 67% and I'll explain later.
I don't know Nova (and ought to have researched before posting) but I did say "While by no means a 'given' " to cover the eventuality. From my limited experience (and common sense thoughts) a register at the same diameter as the thread doesn't make sense. My Myford S7 has a 1-1/8 x 12 thread and a 1¼" register. Looking at
http://www.lathe-chucks.com I see that all the threaded spindle sizes listed have a larger register - not by a great deal, but definitely larger.
I agree that most threads when measured over the crests are likely to be 'under-size' but that is not because the thread is under-size, but the crest has been truncated to avoid potential interference in case the 'nut' is at the lower limit of tolerance. the 'Effective' dia must always be correct and that is why threads should be measured using the 'three wire' method (or a 'Thread Micrometer'). The measured O/D is to all intents and purposes irrelevant - and actually why a register of the same diameter is possible - though, I would argue, bad practice.
I've done a new drawing - using the 8tpi Unified thread form - to better illustrate my point about binding. It also shows the thread engagement %, effective diameters and potential crest reduction and why that would not affect the binding.
Of course, I'm talking text-book sizes and not accounting for wear or poor manufacture which will certainly have a bearing on the matter but is 'intangible'. If Nova were to cut the thread with an effective diameter 20 thou undersize then you may well get a 33 x 3.5mm chuck on 4 turns. You'll see from the second illustration that there is no binding at 3 turns