I don't necessarily agree, base on the fact that Milhous wants to cover inches up to 1/64"
Suppose that the program demands 1/64" precision at all times, that should take up 6 bits of the mantissa. In a float, there's 24-6 = 18, which (if my math is right), should mean that he's got a range of +/- 262144 + 63/64"
That might be enough precision in the float to convert properly into the faction without loss.
And since most people working on inches uses denominator of powers of 2, it should be fine.
But back to the original question, I don't know any libraries that would do that.