The last couple of guys who asked me, had better luck using aluminum. Check out my Forum Machine Scraping and Restoration as one of the readers followed my directions and took photo's. He did a great job. Tony also archived it along with the Warner Swasey alignment / leveling manual that it's principal can be used with every lathe. The 2 collar test alignment was on a Enco lathe that the head-stock rotated on a center pin. We also show a simple and sure way to align the tailstock.
For years I used leaded cold roll or aluminum. I also use thick wall tube as W&S says for there machine it is more stable, less deflection. But if you can afford it, use aluminum as it is easier of the tool bit or insert. If you have any problems or questions please write. Rich