Nice! Collets are a good thing -do a lot of work with them since many jobs I get are on existing shafts that are fairly true but have no centering holes and/or I can't divot the sides to mount with a dog. Fortunately most are between 1" and 1-1/8" too... I get the odd one that's over 1-1/8 and need to fight with jawed chucks to hold it straight. Usually, I'm rebuilding the threads on outboard motor prop shafts after doing a build-up and re-thread or conversion to a different attachment method.
BTW: The PM bench is OK but, I think that lathe would benefit from being bolted to 500lbs of cast iron. That's my guess. When I have to make a long shaft from scratch, I get some noise marks going past the 18" mark and every bone in my body says it's from the light side moving a tiny bit. -Not a real problem worth crying over. Been thinking of beefing-up that bench but it's not as easy as I wish it were. Still thinking of the best way to do it but haven't thought long/hard enough. How bout you, any ideas?