Zee, maybe something else to consider with the tailstock...
I replaced that useless capscrew on the bottom of the tailstock with a capscrew on the top where you can actually get to it when trying to do an alignment.
When you do that, tailstock alignment is a lot easier. Example of that mod <a href="
http://www.homemodelenginemachinist.com/index.php?topic=8834.msg95996#msg95996">HERE.</a> I also added compressor man's adjusting system, helped even more, shown by him <a href="
http://www.homemodelenginemachinist.com/index.php?topic=8834.msg98270#msg98270">HERE.</a>
With those mods, this is the way I now align my tailstock. First I find the centerline of the lathe by putting a test bar in the 4-jaw and centering it. My test bar is 0.500" in diameter, therefore I know the centerline of the lathe has to be 0.250" in from its outer surface. So I adjust the cross slide to force a reading of 0.250" on the dial indicator, giving me an indicator and cross slide set so that 0.000 on the indicator is at the centerline of the lathe. (I temporarily remove the tool holder and compound from the cross slide to make it easier to locate the indicator and its magnetic base.)
I lock the tailstock and crank out the tailstock quill until it's almost fully extended, and lock it there. Then, without changing anything about the dial indicator, I carefully move the carriage down the ways toward the tailstock while pulling out on the top end of the indicator stem so the stem will clear the end of the quill, and stop the carriage so the indicator is now measuring the quill. My tailstock quill is 0.866" in diameter, so if the center of the tailstock quill is actually aligned with the lathe centerline, the outside of the quill should now indicate 0.433" along its entire length. If it doesn't, I adjust it until I'm satisfied with it.
Screwing in one of those added adjustment screws swivels the whole tailstock around and changes what was done with the other screw, so the alignment process is an iterative process (at least it is for me). I found that the best way to make progress is to work toward minimizing the
difference in readings from one end of the quill to the other first, without regard to the actual distance from the centerline. Then, when I'm satisfied that the quill is parallel with the centerline, I tweak both adjustment screws in or out in unison to get the quill axis aligned with the center of the lathe. I leave my test bar in the chuck during the alignment. If the dial indicator gets bumped accidentally during the process and my reference measurement is lost, I just crank the carriage back to the test bar, set it again, and continue.
Aligning the tailstock this way assumes a lot, including that of the headstock being reasonably aligned with the centerline of the lathe. From what I've read, a good way to check headstock alignment on our hobby lathes is <a href="
http://neme-s.org/Rollie's_Dad's_Method.pdf">Rollie's Dad's Method</a>. When I checked mine, it was off about a thou and a half over five inches, IIRC.
Regards,
Rudy