Ha,
The above is an interesting way of thinking about ME. I started off building steam locos and the kit was merely an ends to a means. Now however, I am more interested in making kit not models! There is always the opposite viewpoint.
My old Cushman has had its jaws ground via a dremel and the improvement was well, not a lot. As I said before, if I can half the average run out, then I would be a happy man. Some simple turning and 4 holes drilled and tapped, sounds a very small price to pay, if it works. I am just about to start doing the job so I can report back tomorrow.
The Cushman chuck is definitely not a worn out heap of manure, in fact it isn't in bad nick as far as I can tell, The jaws are a good fit with no appreciable rock detectable and the scroll looks to be in good condition. Well worth an hour or twos punt, to see if it can be improved.
I have an excellent 3 jaw chuck (Polish) and I prefer to keep that for relatively precise work. The Cushman is used for any old rubbish job, when I don't wan to wear out my good chuck. OK for real precision, a 4 jaw and DTI are the way to go. Changing chucks relatively frequently, as I do, I never have problems with chucks sticking!
Andrew.