I recently saw a d1-4 chuck for 5c collets that had a good price. However I was told it had significant runout. Wondered how hard it would be to redrill/ream to fix
Most of the generic D1-4 direct mount 5C chucks have pretty poor TIR, usually on the order of 0.004-0.006" or worse. Since they are direct mount, there is no adjustment or you cannot redrill or regrind to fix this. Trying to regrind the front flange seat will cause more angular skew relative to the back threaded portion which is fixed in position. I went through two of these generic chucks and they both got returned. You could get a plain back version, index a D1-4 backplate and do the tap method to set the alignment to true it up, and then tighten up the mounting bolts. A reasonable alternative was a generic 5C Tru-Set D1-4 mount from LatheMaster that use to be sold on eBay, but I neither see them listed anymore and also the LatheMaster website no longer is active. You might try to contact the eBay seller. The direct D1-4 Bison (TMX) or their set-tru versions are very nice, but pricey. Gator will run about 30% less, they are a direct Chinese copy of the Bison but the fit/finish can be variable.
i bought a cheap 1 turned the backing plate a few thousand under size, set up with a good 5 c collet, taped it around tell it ran .0002, tighten the back plate down, runs great.
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