Think of concentric ammo and chambers as a functional system.
What features controls the position of your ammo when the ammo is chambered and ready to fire?
That depends on how you size it compared to the chamber features.
1. If your chambered ammo is aligned by the case body then measure run out by using the case body as the reference surface. You can then look at the run out of the neck, the bullet just ahead of the neck and the bullet near the tip to insure all are on a common axis when the rifle is loaded.
2. If your chambered ammo is aligned by the case head and the neck, use those areas for the locators while you spin the case and look at the bullet.
3. You could also use the case head and the conical shoulder if your cases are controlled by the shoulder cone. You would need a conical locator that matches your chamber.
Locating on the case head diameter and the bullet tip is not how your ammo is located in the rifle. You wind up finding banana shaped ammo like that but it does not correspond to the functional locating surfaces in your rifle chamber.
If you have ran a lathe much you can think of the chamber like you are operating a lathe with a steady rest. Think of spinning a 75mm round in your lathe.
1A Chuck on the case head and use the steady rest on the case body just behind the shoulder.
If there is run out you will be able measure it at the neck and on the bullet. If the projectile is seated crooked there will probably be some run out on the bullet ahead of the case neck and even more run out at the tip of the bullet. You will be able to see the bullet tip flopping around while the case body has no run out.
2A Alternatively you chuck on the case head and put the steady rest on the NECK. Then the shoulder has some run out and the bullet still flops around if it is not straight. The neck has no run out because it is the functional alignment since it is guided by the steady rest.
3A The last example is chucking on the case head and running the bullet in a female cone center in the tail stock with no steady rest. The area between the case head and the bullet tip flops around if the ammo is not straight. But you do not get a sense of how much the bullet tip is off center when the round is loaded in the chamber. This is how some concentricity checkers are designed but they are not functional gages since they DO NOT function as the chamber and ammo function.
This stuff is covered by ASME Y14.5M Geometric Dimensioning and Tolerancing which is an American standard document on the subject. This is the document where datums come from.
The theory behind design of tooling is that it should be functional and use the same locating features as the functional item being gaged if possible.
For the curious ASME Y14.5M is a handbook type document.
http://www.machinedesign.com/datasheet/new-asme-y145-2009-standards-gdt-pdf-download