Step 4: Turning
Because we don't yet have a tool rest we won't be using proper turning tools for shaping, instead we'll be using shurform blades and wood rasps.
Use a mallet to knock the drive countersink into the work piece and then slip the piece between the chucks and lift the table so the work piece is securely held. Turn the piece by hand a couple of times to make sure it's centered. Now take a deep breath and turn the drill press on at medium speed.
Provided the wood did not fly out you can start rounding it with the shurform blade, once it's round, shaping can be done with the rasps.
and yes I really want real lathe now.