It's pretty easy to make a set up out of centerless ground bar. A 1" centerless bar of about 10-12" for the lapping tool (use with grinding paste never paper) and two 4 or so inch long pieces with one end machined to a point. These could be 1" O.D. (outside diameter) tube with a solid end welded on and machined to a point...
The better lapping bar I saw had the center drilled out about 1/4" but the exact size isn't critical as long as it's true. This allows it to be sighted down and the setup allows you to confirm the rings are pointed the same way (two points meet in the right place) as well as the same way as the bore. Main problem with lapping rings is it doesn't take much at all off them to make them useless and not capable of holding a scope under stout recoil. Less is more...
The other and better option in my opinion is if you have a setup that isn't true for whatever reason going to a one-piece mount or a rail and rings that are designed to not require lapping. Then you only need to worry if they point the right way.
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