I've done 400 plus bench grafts, primarily whip and tongue, with fair amount of funky side graft tries for smaller scions. 300 of my orders were 1/4, and 100 was a size smaller due to a late order. Then maybe a 100 odd field grafts maybe more. The one thing I learned is that Im not an expert just a very good amateur grafter - at least with whip and tongue. I suck at chip budding.
Ball park success on bench 88-94% ish (heavy on the ish) success with the grafts first summer. I usually pot out my grafts then heel them in for winter, almost zero disease issues for me that way and 100% water and care as I can check on them anytime with ease. Then out in the spring or one more year still potted in the nursery. Almost 100% survival of the rootstock even if the graft fails. I always leave a little bit of secondary growth from the root stock - a leaf or small shoot till I know the graft union has taken. In the end after some additional annual mortality from disease, bugs, mice, rabbits, cold (winter test for diff usda zoned scion) and a small child I would say 70%-85% overall survival is a pretty good guess at what in the end makes it out and in the field for the first few years. Till the deer, bear, racoons and voles get their shots in. Then there is that B!##C# Mother Nature.
Your rootstock at 1/4" should be graded as 1/4" and larger to the next size up. So it should be 1/4" plus. I have found that most of my scion is in that range. If I harvest my own then I choose the scion to match. When I have bought scion that came in larger or could only find tiny scion I would move up and down on the Rootstock to get closer to the same diameter or side graft or do a one sided graft.
I have grafted at the top of the rootstock and tight to the roots. That is one thing to remember you can go down near the base of the root stock where the tree dia significantly increases. You just get one shot at it.
You can also ......if you order in bulk. Pre plant some of those rootstock direct to the field for future root stock to scion grafts at a later date. Pssst another little known secret......Bonus move is to let a couple of those rootstocks go to trees. Their apple trees too or crabs. Antys make good wildlife trees and I have a few unknown root stocks that actually have turned out to be great wildlife trees - one hangs late and doesnt taste so bad.
You can also make a stooling bed out of a row of those extra rootstocks to harvest future root stocks should you choose to do only a few in the future. Easier just to buy stock but a maybe fun option.