You will not hold bar stock that accurately in a normal three jaw, they are made to hold the stock while it is machined. If you want an accurate chuck go for a Griptru:
http://www.buckandhickman.com/find/...NCODEEND+external_mm-is-160/product-is-228535
As said use a 4 jaw and clock it to get it right.
To get the tailstock aligned, face a piece of stock with a round nosed tool on centre height from the outside to centre and leave a little nipple in the centre to align to.
http://www.buckandhickman.com/find/...NCODEEND+external_mm-is-160/product-is-228535
As said use a 4 jaw and clock it to get it right.
To get the tailstock aligned, face a piece of stock with a round nosed tool on centre height from the outside to centre and leave a little nipple in the centre to align to.