Facing, on an arrow shaft or gun barrel, is defined as flattening the tube ends to as close to perfect a right angle in relation to the tube's axis as possible. The closer to perfect the facing is, the better the accuracy will be. Certain things like screw in shotgun choke tubes *can't* be used without good facing.
This simple system allows you to cut practically perfect facing, and if necessary, allows you to trim the barrel or hollow aluminum shaft to within minute degrees. It's also *far* cheaper than even the least expensive bench lathe.
The entire system is based on a simple tube, fig 1, modeled from standard high impact plastic, the same as your 565 cutting guide, equipped with a round or square flange, 1a, that's simply slipped down into the clearance hole on the drill press' base, fig 2.
Into the top of the jig tube, you'll need to slip one of several high impact adapter collars, 1b, to fit the diameters of standard arrows....while the bottom adapter, 1c, is simply formed from rubber.
The system is retrofittable to pretty much any drill press. The only considerations being that the clearance hole in the press be in alignment with the tube jig, and the clearance hole be the correct size. Both are easily satisfied by simply supplying a cutoff wheel of the proper diam that would then be mounted in the Dremel and lowered via the press. It would cut its own perfect hole.
Arrow cutoff saws can run into the hundreds of dollars. A facing tool for a single shotgun barrel starts at $70 for the tool alone....not considering the lathe to use it. This system is easily produced in the $20 range and is highly adaptable.
Crown cutting on rifle barrels, tapering tools for wooden shafts etc are a simple bit change away.