I will Give it a Shot for you and See how it goes.
I Just think it will be very difficult to get it even with a Lathe. Since i only have a 3 Jaw Chuck its going to take some time to align it up. But like you said as cheap as these mounts are its worth a try.:wave:
It has got to be better than the crummy drill press I have that wobbles like nothing else. Plus, as the hole already exists the reamer should be able to "guide" into the hole somewhat. You might even be able to do it by hand if necessary.