Fit a dead centre in the head and tail stock for alignment check bring the two points close together using a thinnish feeler guage between bring the points softly together an accurate idea of whats happening in 360 degrees is then obvious. Now this is only the first of a few things to do to check your lathe. The main problem so far remains to be solved. If you have a metal lathe user consult with them these things are far more critical for them and close attention for a metal worker is vital.
Sloppy tail stocks in wood lathes are often the norm unfortunately as they slide down the bed and you lock them in position another chance of misalignment. I always felt using a metal lathe before a wood lathe can be a distinct help cause wood lathes are dearer than metal lathes as far as quality goes the same applies.
Have success mate look for friendly help belonging to a wood group most all members have been through these things and the cure is at hand.
Peter.
