Well yeah,...
If the piece is indicated in the 4 jaw, a sharp flat sided scribe drawn down the jaw flats should give one almost perfect 90* / 180* counter opposed marks.
....a sharp tool in the tool post, correctly set for neutral height can than be used to scribe the ends from outer to inner circumference.
With a common V block beneath, and a tool setter's level the piece can than be viced in the drill press and the holes poked square.
GTC
