I've seen other devices, in a different style, to solve this same problem. Never tried them, and I'd like to hear your report.
I once stripped a lock nut on this, because the in-lb torque wrench I was using had such a soft "click" that I didn't hear it. Totally over-torqued it like a gorilla.
Fortunately I was able to rescue the set up with a thread chaser and new lock nut.