I am not certain about the 7x10, but the 7x14 has the ability to shift the tailstock perpendicularly to the ways by a little bit to cut some tapers and to zero out.
You may be off up and down however. If the tailstock is too high, you can always perform some lapping or filing to drop the tailstock bore.
If the tailstock is too low, I would think some shimming could be done. I just have not had to think through how I would do that in this particular case.