First time I've had some shed time for a while and decided i should grow a pair..
So with the rest of the faceplate showing 0.005mm I faced the register, mounted the chuck backwards and indicated the same 0.04mm to 0.05mm runout as the other way around and skimmed the back of the chuck. It now indicates 0.015'ish mm (or about 6/10ths of a thou). Possibly if I pratted around trying bolt hole mount options I might find sl better and doubtless with greater courage and facing the mount surface and the register surface in one session it would have been even better.
I think that puts this thread to bed.