I may or may not have been helpful by freaking out over the bearings (I'm still a bit freaked), but I did think about it a little bit while I lay awake after midnight. I came to the conclusion that even budget-class bearings should be an order of magnitude tighter than what you're measuring, even on a bad day. Without additional information, like spindle deflection and thrust assessment, and some consideration of your test setup (you never said whether you were using a Hardinge collet or a China drill chuck to hold your rod, and there are many grades of precision rod to consider). I tend to favor the principle of parsimony, where the obvious choice is most often the right one. I think the dealer is now on board to help get to the bottom of things, which is good. I expect the buck to stop there, but if it doesn't, at some point you should probably demo your test setup for us.
Edit: More than one person on this forum has bought a test bar from China or India, and found them to be eccentric. I have one, but I have never used it and am less inclined to try after seeing other people's findings. Maybe I can play with it this evening.