Well, when you reverse, if you spin the piece and it is within 1/16 inch when you spin it by hand, that is pretty good. Only noticeable if you are turning down to less than 1/8 inch. Lots of things can make for added run out. Any chip or piece of wood can make for up to 1/8 or more run out, make sure the recess or tenon is free of debris. One chuck jaw screw can do the same. For the finish cut on the edge of the recess, I hold the tool very gently and let the lathe spin, just taking off tiny dust motes of wood. I prefer a shear scrape to an actual scrape. Some times just rotating the piece 45 or 180 degrees can make a big difference. I do have a video up on 'Mounting things on the lathe' that might help. Oh, like my Kung Fu teacher says, "10,000 more times!" But teacher, that is what you said last time..... "Well, 10,000 more times!" You do get better with practice....
robo hippy