Alright guys, I made my first fail part (a few days ago). This was supposed to be one of the wheels I discussed earlier today, but more of a practice than anything. I'm still pretty noobish on the lathe.
First mistake. I started from the wrong side. I started from the side that didn't need to be bored out. As a result I would have to drill through the entire piece instead of just a little bit on the correct side. No big deal right? Well I came to need to redo the entire thing because...
When I was finishing the part, I accidentally moved the wrong axis handle and ate off my pulley flange. Ugg... Fail.
Well, it still looks nice anyway so I keep it on my desk. It also helped me realize that I need to change a few things in the design anyway. The Oring groove needed to be wider for instance so I suppose this was a good mistake.
However, I did decide to use the pre-existing plastic ring. Buffer it a small bit with anti-static tape, and then fill the rest with glue. Perfect fit after dry.