So I got this cheap live center on eBay, and have some questions

My take as well. I just don't use a live center when I need near zero runout- which isn't often enough to justify the hundreds of dollars for one.
I use a dead center, plenty of STP lube on the part/center and turn at as slow an rpm as I can to get the results needed.
White lead used to be the preferred lubricant for dead centers. When it was taken off the market I searched for months for a replacement.

On the recommendations of several from another professional board I switched to Honda Assembly Lube. It was originally developed to be a parts lubricant when assembling motorcycle engines. I’ve used it for many years. I think it works better than white lead and isn’t hazardous to your health, except possibly for those who live in California
 
Bottom line, if something is advertised as being in a specific condition, then that it what is expected, no ifs, buts, or ands about it. Accepting anything less is, frankly, ridiculous and allowing continuance of the shady practice of sub-par goods being sent out rather than what is listed/shown in the listing images/photographs. (...) So to answer your question "are we really being fair here"? Yes, we are being fair in expecting exactly what was listed and represented for sale irrespective of the price point.
Nah. I think it's because it's easy to extort small sellers for money. Pretty much no car in the market matches the specifications sheet's fuel efficiency, and I don't see people getting 40% of their car's price back.
 
Nah. I think it's because it's easy to extort small sellers for money. Pretty much no car in the market matches the specifications sheet's fuel efficiency, and I don't see people getting 40% of their car's price back.
I know someone who did close to that a year after he bought a new car that had a replacement fender (damaged while it was being unloaded). While he could have had the dealer arrested for fraud, instead he got a real new car (current model year) and they forgave the remaining payments on the not-new one he returned.
 
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