Abstract: A cutting tool system includes a clamping device and a cutting tool mounted therein. The cutting tool carries a cutting edge and includes a shaft clamped within an aperture of the clamping device. Prior to being clamped, the shaft is movable relative to the clamping device in either a longitudinal or rotational direction, in order to locate the cutting edge in a desired position. Either the clamping device or the cutting tool carries a spring-loaded device which engages a recess formed in the other of the cutting tool and clamping device when the cutting tool and its cutting edge are in a desired position, to provide an indication that the cutting tool is in such desired position by providing a sudden increase in a force necessary to displace the cutting tool out of such desired position.