BORING THE JAWS:
Once you make sure the chuck opens and closes smoothly then you will want to bore the jaws if they have significant run out. The first step Is to open the jaws on the chuck all the way up. Then close them about 1/12 of a turn and turn the lathe on high speed. Then bore the jaws with your regular boring bar. Make sure you snug up your screw dial and the rear carriage thumb screw. You don’t want any carriage play or cross-slide backlash when boring the jaws. Take a few small in and out passes. Then on the last pass stop after you complete the inward pass and turn the lathe off. Back the cutter out without touching a jaw and check for run out again. Sometimes it takes a time or two to get it right. It usually can be trued up to turn within .002" or so. The above works best on the small bore headstock chucks. On the Deluxe large bore headstocks the above works well, but sometimes you can get a truer bore if you run a faced off piece of 1.375” Phenolic Butt size tubing in from the back side and chuck the metal rear part of the jaws down onto that. That allows you to still bore the entire aluminum part of the jaws. To bore the rear chuck, do not remove either chuck. Instead remove the front plate on the headstock. Then loosen the bottom back clamp that holds the headstock to the bed. Slide the headstock off and then slide it back on with the back side now up front. With the front plate removed and the headstock turned around you will now have the rear chuck on the right side so you can bore it just like the other one. Once it is trued up then turn the headstock back around and reinstall the front plate. If you bore the jaws too often or two much you will have to replace the set of jaws. The new jaws come to a point and have to be bored from scratch.
I recently installed a new set of jaws. Just to add to what Chris said. IF you use the power feed instead of the had wheel, you will get a much cleaner cut. The same is true if you need to taper a Stainless Steel Joint. The only difference being that with the Joint, you can only take off a couple thousandths at a time, and you need to stop and let it cool every 1 or two passes or you will ruin the glue bond.