Ok you got first part,mount shaft between centers or in tailstock to do that, then mount a dial indicator on the compound a few inches from pivot.
Now take a test cut in a scrap piece, now put three or 4 felt pen lines on the test shaft.. insert and wiggle back and forth..do not spin.
Then read the contact on the part..via the smeared lines.. it tells you the direction to tweak..... adjust compound about 4-6 thou depending on the contact.. and see how that works a few more and you will nail it..
without the dial to control your adjustment.. you go back and forth too many time..tend to overshoot and just takes too long..