One thought to bear in mind is that there are Tolerances and a lot of people spend a disproportionate time chasing something that bluntly is not there. The machine is not made perfect and it will have innate errors which are within the makers specs. If you then try to better these tolerances then you are in for a long tedious journey.
Using a spirit level to level in x and y and then doing a turning test is sufficient as far as I can see. Think on and try to remember when you last turned a length of metal over 200mm. Yes, you turned the end but not the length and over short lengths the machine will be fine.
Further consider a large lathe some 5 mtr bed length, its weight and mass are almost self levelling but you still set x and y level and that would suffice for most work. As things get bigger so do the tolerances!
If, we as engineers spent more time making rather than testing then a lot more work would get done. Having initially set up my Lathe I continue to use it happily and would only worry if I had to move it again. In fact it does all I ask within all aspects that I require of it.
Industrial machines are another matter entirely and may now need more care in setting down and alignment as more is asked of them. Not withstanding that they work at much higher speeds and are much more powerful and rigid. Continous high accuracy work is expected of them and after all they must make a return on initial cost.
Model engineers are not high production as we do not have the time and after all it is a hobby and not a job, except in some cases.
So, just set the machine up then use it to the best of your ability to make your dream machines.
Clive