My latest project has been to make a spacer plate/centering ring to mount a Yamaha disc, which has the 750 bolt pattern, but a slightly larger center hole, as well as slightly less offset; about .050". The problem was how to hold the part, as well as how to maintain a uniform thickness on the very thin flange, so that the disc would run true.
I started with my tooling plate on the lathe, and did all the critical dimensions. Then I transferred the tooling plate to the rotary table on the mill, drilled the hole pattern, bolted the part to the plate, and cut the OD of the flange with a 3/8" end mill.