Greg - before you go out and buy a new chuck, do the following:
1) Check the preload on the bearings. I believe that our tech writers have included the procedure with the manual. If not call and request the procedure.
2) Remove the chuck from the backplate. Leave the backplate attached to the spindle, or remount the backplate by itself after the chuck is off.
3) Remove all the jaws from the three jaw and clean the scroll.
4) Take a skim cut off your backplate and the shoulder making sure that the fit is tight for the chuck being remounted. There should be a matching shoulder on the chuck. Loose shoulder will result in bad runout, so easy to correct while making the skim cut.
Remount the chuck and test with a proper test bar. You should be within .002" easy. Every machine we have checked like this has come through just fine with the factory chuck.