and I'm testing it with a dial indicator and getting what seems like a lot
of runout, around 0.005". The drill (or in this case a reamer) is
straight

0.005" is a little high, especially if you have to keep using it for the
rest of your life. I'd keep chasing it down. You already measured the
spindle and that sounds good, next buy a quality arbor and measure its
runout without the chuck on it. If you can get your current chuck and arbor
back apart, test the arbor from that, if its straight your new chuck is
marginal. If you reused the arbor from your older chuck there is a good
change its bent.

I like the Rohm chucks, they cost just a little more than the imports but I
find the quality to be pretty good, almost as good as an Albrecht.

www.use-enco.com has pretty good prices on the Rohm chucks.

Good luck-

Paul T.