runout

Hello! I have a Hamilton sensitive drill press (model A-M) that uses a JT1 tapered (<-- I think) jacobs chuck, and maxes out around 7k rpm. The runout from the shank of a 3mm bit is 0.08 - 0.1mm. The runout of the spindle just above the chuck is 0.01mm. As I said before, I'm not positive of the...