Don't turn that lathe on until it is freed up and lubed. I wouldn't worry about any fancy measuring tools yet. Keep an eye out at local garage sales or Craigslist. Once that thing is running, you will need a dial indicator to dial in that 4 jaw chuck. I suspect that is a long way off, if my experience is any guide. If you still don't have a dial indicator, you can improvise with a height gauge, or if you really want ghetto style, a straw from a broom. You can also make a homemade dial test indicator with a few bits of sheet metal and other scrap, or you can get the cheapo at Harbor Freight if nothing else shows up.