So next thing is to dismantle the chuck body and try and find out if I re-assembled it previously with the wrong orientation.
The body is in two halves held together with nine cap head screws. Gingerly undoing them the two parts start to separate by the pressure of the internal springs so I carefully marked the current orientation in case it had to either go back as was or rotated depending on what I find.
Well happily (I suppose!) there are three tapped hole to force the two halves apart if it gets stuck, and I could distinctly see the ghost of the holes in the flange that the screws would bear on, and they are orientated as they should be. So no, I didn't cock up the orientation.
Further proof was shown by a tiny locator hole for a pin in both halves with an equally tiny O ring to retain the pin, however the pin was missing !
So I carefully cleaned up the mating surfaces, removed a minor amount of debris and put it back together exactly as it was, obviously as assembled in the factory, as I thought there was little point in ringing the changes having found the pin thingy.
All back together, and refitted - needless to say the run out is still there but this is to be expected
So next the big leap: Re-couple the hydraulic lines that I had had to blank off at the far end of the spindle, and see if the chuck actually works or whether it spews hydraulic oil everywhere

Hoo-blooming-ray it actually works. OK there is a run out issue, but perhaps my expectations of a thirty year old heavily used chuck are too high
