Sounds like you have a good one. Believe me they don’t all run 0.001” TIR. It also depends on how you measure the runout. At Jacobs, a 1/2” chuck, for instance, would be measured at half capacity (0.25” dia.) and max capacity (0.50” dia. ) about 1.5” out from the jaws. A typical spec would be 0.003”.