Disagree.
All commercial collet chucks run out at less than 0.01 mm, way out from the spindle.

A typical iscar or similar collet chuck with tool mounted and tool, would run out maybe 5-8 microns 100 mm out from a typical ISO40/ISO30 spindle nose.

A kaiser, bigx, schaublin, regofix, or anything good typically promises about 2-4 microns 5-10 cm out from the spindle.
Lots of machines, tools, and setups do better.

Nothing commercial runs out over 10 microns or 0.01 mm because it would break, shatter, or destroy life of all modern carbide tooling and diamond tooling.
Standard basic TIR guarantee on machine tool spindles has been around 2 microns for a long time.

All high end expensive machines do much better, like Heller (German 5 axis), Fehlmann, or any japanese maker (Mori Seiki, DMG, etc).
Anyone can lap/fit/hone a tool and cone and taper to better than 0.01 mm / 5 cm length at home.
Anyone professional can do much better.
Amateurs hand-fit telescope lenses and mirrors to 30x better with no measurement equipment all the time.

Hand lapping with rigid laps gets easily better than 1 micron accuracy in size, since about 1940.

Gage blocks are machine lapped, cheap, and are lapped to 0.01 microns.
According to moore&wright, premier authority on the planet.

The runout on a tool mounted in a HAAS, ER collet chuck, needed to be 1-5 microns at 10.000 rpm trending low.
To engrave custom electrodes in carbon fiber for EGM.
I held the tool, the factory demonstrated success, I showed the tools and electrodes to press and about 200 industry reps. in us opening a 2011 year Barcelona HFO.
Best in the world HFO, sales, 2012.

Yes, I personally asked the factory to run the test and demo and we got back samples and video.
The tool was maybe 2 mm thick and 100 mm long and the tip was only 0.02 mm.
The tools and customer cases were in glass cases visible to several hundred visitors and pics with Gene Haas and US ambassador G. Philps and us are online in publications.

Professional ethics and courtesy and practice are why I don΄t share pics.

Quote Originally Posted by Robin Hewitt View Post
Let us consider one component, the run out on the collet chuck holding the tool... Standard precision 15-20 microns, Super precision 10 microns, Ultra precision 5 microns