What I've heard from some welder buddies, is the tolerances are 1/16" min. to a 1/8" max.
AND donf... slip-on flanges are different then socket weld flanges. Slip on flanges have no seat at the end of the fitting (like socket weld fittings do), you could literally slide a slip-on flange half way up the length of a pipe and locate the flange there. However a slip-on flange second weld is located in the bore of the flange about a 1/4" from the face. ALSO the 1/16" to 1/8" tolerances apply to the SW flanges too. Good Luck ALL! ...Mark