Hi Terry,
While I agree that the "tool" you bought appears to be not of merchantable quality, I don't quite understand why you had to wait a minimum of overnight delivery to get one, and now wait to get a replacement. I hope you don't take this as antagonistic but surely you had have a bit of HSS left from pre-fire days, I would be even more surprized that you don't have a threading one of some description, and a grinder MUST have been one of your first purchases post fire. There is no way that HSS tooling would have been affected by a domestic house fire, save for bit of discolouration, and so should still be useable.
Now, as to loosing concentricity don't you have a four jaw? i would have thought that a man of your experience would not think twice about taking out and then replacing a work piece as many times as is needed.
Now, again, assuming you do have a tatty old bit of HSS to hand but don't have a grinder, yet (limited budget quite understandable), a 6" self adhesive abrasive disc stuck to an old bit of MDF, and spun in a lathe, makes a perfectly useable grinder. The fag of having to cover the bed ways out weighs waiting till the Midlands to get a replacement any day in my book.
As I said this is not meant to be antagonistic, so don't get all het up at what is meant to be helpful advise. It is just that, although I am a patient man, i would never let the lack of a simple tool bit stop me if, with a few minutes and some means of grinding, I could get one straight away.
chriStephens
PS to all those knocking chinese stuff, are you sure it not from another asian country of questionable quality control?
EDIT, Yes, you were right to warn newbies which was the reason you initialy posted, I suppose.
Edited By chris stephens on 14/10/2012 14:56:11