Great ideas. Really like the holes in the bushing for the snap ring pliers. Woodcraft sells a guide bushing base plate that comes with a cone shaped centering pin the sets up you baseplate perfectly in the center. Also comes with flat headed screws that are better than pan head screws. Worth the investment in my opinion. But this was very good.
I see you have a lathe in the background. If you use wood, you could turn a dowel to fit the collet on one side and the bushing on the other. No having to line up. Thanks for the video, looks like i'll be using another one of your tips.
You could also put a layer or two of tape around the bushing so that it fits snugly centered upon inserting it which gives you immediate consistency. Good idea with the 1/2" tube/dowel tho.