You don't say what your lathe is. Does it have a tailstock? If so,
turn the end and leave about .010 (.020 on the diameter - .270) stock.
Then use a combination center drill and countersink to drill a center
hole for a center in the tailstock. Loosen the chuck and slide the
part out of the chuck. Chuck the part with the minimum amount
possible. Use the tailstock center to support the turned end with the
shoulder. This will allow you to dial in the shaft for the entire
length. When you have it dialed in then lightly machine the turned end
to the diameter you want. Cut lightly. Take your time. The best would
be a toolpost grinder.
If your chuck doesn't have a tailstock find a lathe with a tailstock.
thanks
Stuart
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