I laced an 18 inch  rim to the read Savage hub. In a fit of inspiration, I came up with this no cost truing stand. A Rubbermaid storage container and a wooden dowel, found laying around the garage. A couple of clamps to hold the dowel to the tub, and another to act as a stop for the hub. I used my finger as a half a**ed dial indicator. Close enough for gummint work. Later on, after it's mounted on the bike I can get more precise, if necessary.

John in Kalifornia

 
I use chairs and an aluminium rod to do wheel balancing on a rig up  of this sort of accuracy, but fine wheel truing requires the use of a .001" dial indicator when the wheel cannot move laterally or radially any at all.  

You can mount the wheels on the bike and attach the dial indicator to the forks on the front and the wing arm on the rear to do the actual fine truing portion of the wheel truing.

PS  tune the wheel again after you mount a new tire on it -- tire mounting forces are enough to knock the wheel/spokes out of kilter some.

Fair warning, you have to learn to quit when you get under .010"-.015" rim deviation that is evenly dispersed on a wheel with a tire on it.   Go finer than that and you are down into the range of chasing spoke tension butterflies, butterflies that will certainly change after only a week on the road.

A bike stand that actually lifts the whole bike up into the air is very nice to have when doing this sort of fine fiddly work as you kill your back bending over for that long otherwise.

Or I do anyway -- but I am old and creaky

Here's a picture of the truing stand. I went with the jack stands. The HF dial indicator is clamped in the vise.

The paper that came with the spokes said that "Big twin" spokes should be torqued to 80 inch pounds. Seemed high to me. I used a fish scale hooked to the spoke wrench. I just pulled on the wrench till I saw a "9" on the scale. Since the distance from the spoke to the place where I applied the force was 3 inches that gives approximately 27 inch pounds of torque. Call it 30. I went all around the wheel on each side twice.  

John in Kalifornia