I marked high and low spots on the spindle yesterday and started shimming with aluminum foil between the spindle and the collet taper. Got interrupted by work but I got what I wanted this morning. No deflection of the needle in a full rotation of the spindle. 2 small tapered pieces of foil, one smaller did the trick. On to adjusting the mast and torqueing it down.
When the storm lets up I'll go get the drill rod from the mail box. Gail warning right now, due to peak about noon. LOL
I squared the mast to the bed using a dial indicator chucked into the trued spindle and got it to .001" in a 6 inch swing. I installed and tweaked the 3/8 collet until the .375 pin ran true. Same shims as the 1/2 collet so the spindle will get replaced some time down the road likely with a belt drive if this mill proves itself. I chucked a 3/8 HSS end mill that will be my first cut and ordered a milling vise to raze the stock within reach of the mill. With what I hear about cutter chatter I have the cutter fully seated in the collet and will have the head as low on the mast as practical. The first project is a dovetail clamp in 6061 aluminum.
I find myself wanting a vertical bandsaw now and that was NEVER on the list.