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Twist drills in the smaller size often tend to wander when used for center drilling in the lathe. To prevent this, make a guide by drilling a hole, with the drill to be used, near one end of a short length of 1/16" flat steel and then file the piece down to fit the cutoff toolholder. Place the drill in the chuck, the guide piece in the toolholder, and insert in the tool post loosely. Insert the drill in the hole in the guide; run the carriage back until the guide bears against the chuck jaws. Then tighten the tool post screw and you have the guide centered.
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