John,
Bruce mentioned my centering points in one of the earlier posts, so I guess it's appropriate to show you what they look like and how I use them. After purchasing my mill, I spent the better part of a day with a Last Word gauge, looking at the tolerances of the machine and making sure that it was set up correctly. I found near zero runout on the spindle taper and the collet adapter, but each of the collets had some runout. The 1/8" collet was most concerning because it had 0.0012 TIR runout and I knew I would be using it a lot. Another consideration was that collets are most accurate when holding a piece that is the exact size of the collet (0.125" pin in an 1/8" collet). All of the commercial centering points that I found had a larger angle on the point than I liked. The large angle on the point allows using one point for a wide variety of hole sizes, but the compromise is that it is much more sensitive to the condition of outside face of the hole. I finally decided that it would be necessary to make my own centering points to achieve highest accuracy.
I settled on a 5 deg angle for the points, which meant that I would have to make 5 of them to cover all bushing sizes.
View attachment 580326
To compensate for the runout in the collet, I took the head off my mill and mounted it on my lathe. I then match-marked the spindle to the collet holder and the centering pins to the collet with pink fingernail polish. I turned the shank on each centering point to 0.125" dia. Then I set the head at a 2.5 deg angle and turned the tapers on the centering points while holding them in the 1/8" collet with all of the match marks aligned. Two of the points have 0.0002 TIR at the tip and the other three have 0.0000 runout.
I purchased the Sherline horological plate holders, but I found that their height gets in the way when bushing holes that are near the holder. Finally decided to make my own, which are shown below.
View attachment 580327
Mark the pivot holes with the position of the original pivot. Place the plate on the holders, making sure that there is some room for the plate to move in all directions without binding on the hold-down clamp screws. Then plunge the centering point into the pivot hole, while holding gentle horizontal pressure between the original hole location and the centering point. Tighten the hold down screws and bore the bushing. The Sherline mill has a very sensitive "feel" and you can very easily tell when the centering point is solidly against the plate. Don't force the point down after it makes solid contact, as this just flexes the plate and potentially introduces errors.
The method that I settled on for bushings is that I purchased center cutting end mills that were slightly smaller than the commercial reamers (for the smaller sizes, they are less than $10 each). Once the plate is locked in place, I chuck the mill (which usually has an 1/8" shank) and bore out the old oblong hole. I then remove the collet and drawbar and drop a custom reamer holder that I made through the spindle. Then I hand ream out the last few thousandths and drop in a piece of 1/4" round stock that I use to tap the bushing into place. If you need to trim the bushing, you are already centered up, just throw the collet back in and trim away.
Without getting into details of how I made the measurements, I checked the procedure with 4 different bushings and found that the bushings were centered on the original hole within a minimum of 0.0008" and a maximum of 0.0012".
I would strongly recommend using Jerry Kieffer's method of using gauge pins to bore the bushings to size. I usually don't pay any attention to the old pivot hole size, I just mike the pivot, select a gauge pin that is 0.0015 to 0.002" larger and bore to that size. I think you will find it to be very close to the "ideal" 5 deg lean.
I hope this helps.
Dave Diel