Your never an Ex-Machinist..LOL..Nice job on the home made stand..I must by lucky I have gotten two Park stands for free..One was a little beat up and the other was nice and new.. ..I mounted some dial indicators on it as well.....just not in the picture..
I normally true my wheels right on the bike I am fixing. I use the chain stays, seat stays, or fork leg as reference points and true it by eye and feel.
I have an old table from a hospital that cranks up and down that I have modified into a work stand for bicycles so I can raise or lower them to a comfortable working position.