Lots of questions:
1. Is the test repeatable? Can you remove the collet and replace it and get the runout in the same place? If so
2. Does the collet chuck or spindle have zero runout?
3. If you are measuring a test piece held in the collet, is the runout the same close to the collet as farther away?
4. Is everything free of dirt, burrs, bad drawbar thread etc?
1. Is the test repeatable? Can you remove the collet and replace it and get the runout in the same place? If so
2. Does the collet chuck or spindle have zero runout?
3. If you are measuring a test piece held in the collet, is the runout the same close to the collet as farther away?
4. Is everything free of dirt, burrs, bad drawbar thread etc?