Even with a 3 MT arbor turned to 1" in the lathe, slitting saws still run out (and I am using Sherwood cutters from Cromwell Tools, so they should be of reasonable quality )
The problem will be that every time that a cutter is remounted on the arbor it is likely to be in a different angular position, so making the register on the arbor eccentric, to compensate for the saw, will not provide a cure.
One way of using every tooth would be to feed at. a rate per tooth greater than the eccentricity, which may may be too much for a bad run out.
Me? I just moan, and live with it!
Howard