Seems this subject does the rounds again and again…
Level is a complete misnomer. You could level the bed with the most accurate level possible, but this gives no hint as to headstock or tailstock alignment, etc. I realise the subject here is 'leveling' the lathe, but that means and achieves nothing.
What should obviously be important is if the lathe machines straight and parallel. Merely leveling the bed is no guarantee of this at all. There are various tried and tested way of machining a bar, held in chuck and another between centers, that provide all the info and measurements to achieve the best accuracy within the limits of that machine ( wear, original machining tolerances, etc). The aim is obviously to ensure that a line through the centre of the spindle passes through the centerline of the tailstock, and is parallel to the lathe bed, vertically and horizontally. This line does not need to be 'level'…
If the bed is 'naturally' twisted, then obviously counter-twist is required, as mentioned by others, shims under the 'feet' or whatever. Bolting a straight bed down onto a twisted surface that does not give obviously negates the objective..Bolting a straight bed onto a straight cabinet and then bolting the cabinet onto a twisted surface, likewise..
Much depends on the initial treatment of the castings – stress relieving, and then how the bed was machined.
I have an Emcomat 14D lathe, which is a toolroom quality lathe, easily equal to the top-line Hardinge of old. This comes fitted to a steel cabinet made from 2mm plate – a vertical box section under the headstock sectiom, and a similar box section under the Tailstock area. Joining the two is a horizontal box section, welded to each. This assembly – lathe and cabinet, sits on the floor on three height adjustable 80mm diameter steel pads ( 12mm thick) with a 4mm rubber pad under. Two pads on the left, one forward, one aft of the headstock cabinet, and one pad under the right section of the Tailstock side cabinet, in-line with the centerline of the lathe bed. The instructions from EMCO for 'leveling' are – adjust leveling pads to ensure that coolant comfortably exits the drainage hole…
The 14D on its cabinet weighs 650kg.
I have verified the Factory accuracy QA check sheets supplied with the delivery, and they are impressive..
I subsequently fitted my EMCO V10P lathe with similar mounts..
No bolting down to Planet Earth, no granite slabs, no high-tensile bolts, etc….
Just get the cabinet firm so it does not wobble or move about in use, ensure the lathe is firmly fitted on the cabinet, and then do the Bar Machining tests, and fit shims or use adjusting screws ( Note – I did not call these 'leveling screws'!) till the machining tests delivers the best accuracy you can get out of the lathe. If you mount the lathe on wood, unless the wooden base is a good Oak cord in size, the wood will probably follow the bed's twist, so not really useful…
Joe