Its funny but my lathe came with a big 4 jaw and never used it for a few years. My lathe set for a quit a few years before i bought it and slowly cleaned it up. Then one day i doug it out and glad i did. It is a 4 jaw with a sepperat ajuster that move all 4 jaws at the same time,then you can also move each one individually. Now i use it most of the time. Don't have a dial-indicator yet just set the cutting tool close untill it hits even.
What else is cool is it came with a drill chuck that screws on the spindle so i can use it to chuck small shafting up to 3/4"round stock. More acurate the 3 jaw ...........Curt