Keith; these lathes can be adjusted so the centers line up exactly, dead
on. Tell us which way your centers are out: up and/or down or front to back
or a little of both.
Accuracy of the center points of the Record lathes depends on the "flatness"
(?) of the surface the bed is bolted to. One can move the alignment of the
center points by shimming under the front or back corners of the cast iron
end brackets(?). This has the effect of twisting the bed bars which will in
turn bring the centers into alignment; or out of alignment depending which
corners are shimmed.
Good luck.
Edward