Greetings, John
I have the same chuck and jaws that you have. I chuck a 1" spurred drive center into the center of the chuck jaws. I then chuck a .25" 30V bit into the spindle. By using the keypad to move the spindle I align the points of the drive center and the V bit. I move the spindle and 30V bit back and forth between the points on the drive center and the live center on the tailstock making whatever adjustments are necessary to the indexer table by moving or shimming . I use a magnifying glass to assist my 46 year old eyes. I can get everything pretty close this way. It may not be "machine shop precise", but it works for the tolerances that I need.
Kind regards,
Jim
PS . . . Nice spindle alignment tool!
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