I obviously would not be converting such a large number with my method. However, if I need to know approximately how many thousandths of an inch 3mm is, I'm not going to go find my calculator, I can just do it in my head and be close enough.
Hell, I even round up a thou.
.04x3 = .120
3mm~.120"
Of course, If I am going to resize a cylinder bore with accuracy, Or check the distance between my front and rear subframes, I would not do this. Please be logical and reasonable.