Jonathan,
I hpe your are havng more fun with your new toy than I am with mine. My "new" Blomqvist is cutting at a taper. I spent a while last night setting up the tool holder ang cross slide with a dti guage so that it is at 90 degress to the chuck and it is still cutting a bit off. I have bored out a hole with the apron stationary while using the cross slide compound rest. Still not sure why it is tapering. It could be that the headstock is slightly off centre. I will need to check this later.

Ian