Fortunately, the Comet is perfectly aligned, so that leaves other things to chase. Been really busy this week, but will get to all suggestions over the weekend, including the message you sent earlier. Thanks! Also, 1mm was a guess, it well could be half that.
I doubt it very much that a wood lathe is “Perfectly aligned”, even metal lathes that ride on prisms are seldom “perfect”, as pieces of metal that are to be able to slide over/along each other, there has to be clearances, small but they are there.
I bet you can wiggle, o so slightly, your tailstock from left to right, I have glued brass shimming on a new Delta tailstock to get a better fit and alignment, after all these are pretty cheaply made machines and not precision machinery.
Some dust, wood chip under the tailstock anywhere, or non roundness of the piece of wood could very well cause that drop you are seeing, just a bit of dirt in the chuck can/will have the chuck push harder on one side or the other, even a difference in the wood’s harness will affect the position of the wood in the chuck.
I very often will move the toolrest right next to a spindle and hand turn the lathe while watching, and I will see vey often that very small gap open up and close, it is the result of very minute changes in the wood, differences in hardness chuck jaws o so slightly off, seeing what and where the difference is, like over the whole length or just at the end, I am able to get less of a runout/change of the piece, remember just 20 thousands of an inch out will give you a mm total runout.