Wheel runout

[ford35lh]

I have about 15 wire wheels and only need 5 or 6 good ones.
Have been checking them for runout(wobble) and concentricity
by mounting them on a drum on my brake lathe.

I mount the drum and check the face with an indicator
then after mounting a wheel use a KD ball joint gage against
the two surfaces that the tire touches.
See photos.

How much can a wheel runout and/or be out of concentricity
and still be a usable wheel ???

Any deviations from zero probably have varying results with a change in rpm when mounted on an actual axle.

How accurate is a new wheel ???
Further, how concentric is a given tire OD to its ID ???