Originally Posted by 42blue15
If you want to try to make this bushing without a 4-jaw chuck and without a dial indicator, you can do that but you should not remove the part from the lathe chuck to test fit it to the engine & CVT. You will need to hold the engine and CVT up to the part still clamped in the lathe chuck to test-fit them.
What I would do in this situation is turn a dummy shaft that has precisely the same diameter of the real shaft on the engine and cvt. It's much easier to test fit a short piece of steel into a part that is held in the lathe chuck than try to position the cvt and engine to it.
Blue is exactly correct about removing the part from a lathe chuck to test fit and putting it back to shave a bit more off. You will no doubt encounter some slight runout and the lathe will cut more off than you intended or the center bore will not be properly aligned in the center any longer.
Collets are excellent for reducing runout when removing a part for a test fit but they are kind of expensive.
The more you work with the lathe the more you will come up with techniques that will make your project a whole lot easier.