The NewWay arbors/pilots should have a slight taper, at least the ones I used did. Assuming the valve guide is not worn nor the the pilots or the center hole of the cutter head, should run true. Sharp carbides with no chipping other damage? At that point I would think it's mostly down to careful manipulation of the "T" handle.
Sort of cup one hand against the block and loosely hold the T-handle shank while you rotate the cutter.
Now if the valve seat is badly eroded, we need to be careful and keep the pressure as such that you don't force the pilot to flex/bend and thus let the cutter follow the damage. Enough pressure to cut but avoid it leading off into the damage zone.
Pushing too hard and causing the cutter head to deflect into the damage was a common thing I saw people do.
As far as how well the pilot fits the valve guide, well then we need to determine if the guide needs replacing or reamed and a bushing installed, to get the cutter pilot to stay in one place and give a good cut.
Now another thing I noticed was the T-handle also seems to put some peoples hand and wrist into a bad angle and cause uneven rotation.
Biggest trouble there, is getting the twist on that T-handle without having your hand/arm roll or twist out of line with the cutter. Real easy to tilt too.
Took me a bit of practice to get that strait, but after that I liked the NewWay.
A light touch on the last few spins, assuming good carbides, and you'd normally clean up any eccentricities.
A dash of bluing and a single turn of the new valve generally showed a nice even contact line.
I always liked a quick kiss with the fine Clover compound and a good cleanup, then a preliminary check for stem clearance and finish the install.
P.S. I hope some of what I said will be helpful to anyone trying the NewWay cutter.
After a carpel tunnel repair and shoulder work and neck bones screwed to a strap, I'm a bit concerned whether still I have the dexterity to do all of this.
Heck, I used to be crazy enough to run an 8-32 tap in a 1/4" Milwaukee drill motor, tapping in HRS about 3/4" thick wall (and get away with it.). but That was mostly testament to how smooth that drill & trigger was!