I made a few arbors and bought a few. Here ‘s the sum total of what I figured out about arbors.
1). For absolute minimum runout, do all the turning in one lathe setup. Don’t flip the part.
2). The arbor body should be as small as possible and still be a stop for the blade. Any bigger diameter reduces the depth of cut you can make.
3). Keep the screw, nut, cap, however you keep the blade on, as shallow in Z height as possible. Bigger keeps you from cutting close to a perpendicular surface…like a step or such.
4). Make the shaft as long as feasible. This minimizes interference between the quill and part, for example when cutting off a fairly long piece with a smaller diameter saw blade.
If there’s more, please add on?