Granted and implied.

Spindle runout added to spindle to insert adapter added to actual tool
then the work to the tail stock whatever.

Might give you ovals to tapers. Might just break cutter edges.

Martin

Glenn Lyford wrote:
If you add lower quality parts, the machine degrades
to the precision/accuracy equal to the worse values.

If that (tolerance stack-up).
--Glenn Lyford