Why is it acceptable

Yessir that was the next option if whoopee suggestion doesnt show similar numbers. I have zilch experience sanding chucks to fit spindles so I'm worried if I take too much off and screw it up in the opposite direction I'll have no chance of a refund. Im pretty confident with sanding metal though I do have experience with sanding non critical stuff.
 
I would mount the chuck without using the studs and use the center to push it onto the taper and then check for the wobble, don't spin it too fast but just check it. At this point the camming studs are not being used and the center is holding it on the taper. Check to see if the back part of the register is against the shoulder on the spindle.
 
Do not sand grind or lap anything until you figure this out, replacing a chuck is bad enough but a spindle replacement is gonna be expensive.
 
Opening up the counterbore in the chuck is not as critical as you think. It must be big enough to allow the chuck to bottom out on the spindle face. If it's slightly oversize, it will only affect run out on the o.d., but it will still be square to the spindle. After all, this is a 4 jaw chuck.
 
Don't touch the spindle no way no how!
Relieving the internal taper in the back of the chuck is not risky. A too small taper will prevent the chuck from seating but a too large one is manageable as derf said. It is very unlikely that you will overdo it by hand. You do not have to take a lot off to fix the problem. I would use some 320 grit.
 
Didn't say not to do it but figure out what the problem is before whacking away on something. As soon as you touch that with abrasive you own it without recourse with the vendor, vendor may not stand behind it but if you don't mess with it you stand a better chance.
 
Is the flat I'm pointing to on the chuck supposed to sit flush up against the flat I'm pointing to on the spindle?Screenshot_20200219-115322_Gallery.jpgScreenshot_20200219-115419_Gallery.jpg
 
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