I fear that you're confusing pipe thread size with *actual* size! Radiator tails have a 1/2" BSP (British Standard Pipe) thread, which has an *actual* OD of 0.8252"! [This is because an old iron pipe of this size has a nominal bore of 1/2"]
Likewise, 1/8" BSP - which is the thread on the outside of my adapter - has an OD of 0.383"
Bleed assemblies used to be made with this size of housing - to screw into the radiator - with a pin of the size you mention inside it. As far as I know, the pins in rads with integral bleed assemblies are the same size as the pins *inside* an 1/8" BSP removeable assembly. So, like I said, I can't use my device in rads where only the pin comes out!