No, especially not for 1 mm accuracy. Here is why not: http://www.chrobotics.com/library/accel-position-velocity
What is the distance range that you wish to track? For short distances (a meter or less) there are linear transducers.
Thanks for the link. Errors stated there were much bigger than I expected.
Range is 15cm and maximum time to travel that range is ~10s. After that time I can reset.
Sadly a component that needs to be attached from 2 points doesn't serve purpose.
I got the idea when I was playing google's little online star wars game which you play with your computer and link your phone to act as a lightsaber. Lightsaber would move as you move your phone.
Accuracy wasn't great, but much better than those errors stated in your link and position didn't float.
Same thing with Logitech MX Air, but with better accuracy.
Logitech's mouse's accuracy would be sufficient for the start!
Difference is that I need only Y-axis to be tracked.