Captions are below each pic.
Chas.

I layout most of my stuff in a CAD system then print it, cut it out and use a spray adhesive to stick the paper to the block. As soon as I find the time I'm going to start printing on clear Mylar so that I can better see the grain as I'm searching for a good block to use.

Here I've sawed around the layout. The two X marks are for my chuck pivot points. I'll be drilling the airway about 1.5 degrees higher than the mortise center-line.

Here I'm center-drilling for the mortise. I've cut away excess material on the shank. Look closely and you'll see a faint scribe line going down the shank, up the bowl and over the top. This goes all the way around. I make the sides of the block as parallel as possible to each other then scribe a center-line all the way around the block using a height gauge. This helps to mark the drill points and provide any other visual reference I might want.

Squaring up the end of the shank with a Forstner.

If the pipe is going to have a Delrin tenon as this one will, I will drill the mortise slightly undersize then ream it with a chucking reamer. Though the rods are extruded, they can vary a little from their nominal size. I use reamers that are either slightly over or under size from nominal in order to fine tune the fit.

I've re-set the block to the upper pivot points and drilled the airway with .156 drill.

I've now gone back to the original pivot point and have brought the live center up in preparation to turn the shank. I've had no problem in re-aligning using this chuck. I note the position of the hex wrench, loosen one clamp block, pivot and use the live center to get position then re-tighten the clamp block back to its original position. If the airway is being offset as this one, an alternative would be to drill the airway last after drilling the tenon and turning the shank and fitting the stem.

Finished with the shank for now.

I made the stem blank on my Proxxon lathe, drilled it and installed the Delrin tenon. I mated the stummel and stem and rough turned the joint. I may put a little more conventional fish tail on this pipe rather than the "other one" shown in previous pics. I haven't decided yet. I can go either way at this point.

Here I've pivoted the block on the original points, center drilled for the tobacco hole, squared the top and turned the bowl about as far as I can go.

This shot shows the airway/bowl juncture to be good. Drilling of the bowl was started with a 3/4 "Wingits Apache 200" then finish-drilled with a tapered spade bit that I made myself. The spade has a tendency to wander when starting. The 4 flute Wingit makes a good starting hole. Not quite the right profile to use exclusively.
I clean up the bowl I.D. with a Foredom flex-shaft with a little flap wheel. Spin the stummel one way and the flap wheel the other. Makes quick work of it.
This is where I am so far. I'll take more pics thru to the finish and post later.
Right now everything is being done on a Delta Midi and a Proxxon. I'm hung up rebuilding my Logan waiting for parts. It will be interesting to transition from a wood late to a machinist lathe. I have experience on a Hardinge but not cutting wood. The Proxxon is great for stems and I'll probably continue to use it after the Logan is running.
The steps I've show here are but a few of many ways to run the process of making any pipe and are certainly not gospel. They work for me at the moment. Having said that, be assured I'm always on the lookout for better ways so chime in if you have any.
Chas.