OMG, haha, are we going to open up that can of worms again about headstock alignment, tail stock alignment, carriage and crosslide alignment
Having had fun with it, I think I need to get serious.
I mounted my Southbend Keyless chuck in my MT3 toolholder and checked the alignment.......
It was horrible. Much much worse than I expected.
Using a short piece of 3/8 dowel, it was just under 10 thou over 1 inch. 28 thou over 3 inches - oddly high at the tip, not low. Much as I know that drills and reamers follow the hole, I don't personally feel like 30 thou over the length of a normal drilled hole is a good thing. At a minimum, it's likely to result in a conical hole.
I think it would be worth measuring yours
@thestelster. Might save you wondering what happened on some future job.
Now my original question haunts me. How do I adjust that out? Or should I bother?