I ran across a video on youtube a couple of days back that showed someone threading the muzzle of a .22LR barrel on a 7 inch lathe, might have been the same one. He left the action installed. Never did show whether the threads were concentric, but he dialed in with a 4 jaw chuck and a rod, including running the test indicator along the length of the rod. The outboard end had a spider he made.
Even an inch spindle bore is cutting things close for barrels through the head stock.
I don't like the limited number of feed speeds (this lathe has one according to the specs!), lack of a power cross feed, and the need to use change gears for every thread or feed change on these little lathes. I would also down load the manual to check the thread pitches the machine will cut.