Good point alignment starts with the taper. I use a disk sander and grooved guide block and adjust it until the shaft taper fits the point perfectly. The grooved block keeps the taper concentric and straight with the shaft. Unfortunately, not all point tapers are the same, just close. Also check to make sure that the head itself is straight and the tip aligned with the ferrule.
Another helpful tool is a shaft spinner. Once you get it set up, you can use a "target" to get the point aligned very close, then rotate it it until perfect.