There are any number of backing plates threaded for 1-1/2x8. The back side, opposite where the chuck mounts, will be approximate, sometimes a rough casting surface. You will mount the backing plate backwards on the spindle. A light cut, 2 or 3 thou is usually all that's required. When the backing plate is reversed on the spindle, where it's facing the right direction, it is true to the spindle.
The next consideration is to true the "front" surface. Again, a couple thou is all that is usually needed. There is a raised "nub" in the center. That rise, or nub, must match a recess on the back of the chuck. There is a very slight taper on the edges. That taper should be maintained. Once the chuck fits it well enough, the back plate is true to the spindle. When the holes are drilled and the chuck bolted up, any (in)accuracy now is a function of the chuck itself.
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I just followed the link from a new post above for a chuck with a back plate installed. There is another, a German model for $299 plus whatever. I can't see eBay on Firefox now so just have to look at the listings. When a chuck comes supplied with a back plate, there are some checks that can be done when it is installed. If the accuracy is sufficient it can be used as received.
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A three jaw, actually any scroll chuck, has limits to its' accuracy. The really important issue is that the chuck jaws are parallel to each other. That they grip the entire length of the jaw for all jaws. There are limits to this accuracy as well. But if there is no daylight to be seen, they should be good enough. Center accuracy can be adjusted sometimes by shifting the jaws around slot to slot. I mark 1, 2, 3 with a sharpie, rotating until I have the lowest offset. Then I cut grooves in the jaws and punch marks on the body so they can be removed and reinstalled the same. The jaws will always be in sequence 123, but shift slot to slot.
Any work done in that chuck will be true to its' own center. So long as the work is mounted in the chuck. When it's removed and reinstalled, that center is lost. If the center is vital, the work should be done in a 4 jaw, trued up each time with an indicator. There are practical limits that only you can determine if your machine meets those limits. Usually, a half a thou at six inches is close enough. Only you can go up or down from that.
True separation of the "men from the boys"(like me) is the time it takes to achieve the desired accuracy. Where a master can do a setup in an hour or two, it takes me several days. That's my perspective though.
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