The same process applies unless the piece is a very weird shape. I know it's a slightly different scenario but with my chunks of wood I try to get the thing to balance in the chuck after marking the approximate centre of the face and bringing up a live centre, then small adjustments. Of course I do not always need the fine tolerances working with metal requires, that said I do produce items that during construction require a fit to within 2 decimal places.

I have no doubt there will be others here who can give you a solution to your problem.