I've got 1 that fits in the muzzle and it was way off when new but it is spot on after I tuned it. I put in the lathe and rotated the chuck to show a big circle on the wall, simply adjust the 2 screws to get the dot in the centre of that circle. Spin the chuck again and the dot should remain on the same point.
This doesn't allow for ballistics but has got every rifle on paper first shot.
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