Agree with Sami that a set of pointed soft jaws plus case hardening will be a lot cheaper. Also, if you bore and number them on the machine prior to hardening, you'll have far less runout as compared to any commercial hard jaws which, according to the manufacturers, will typically have .005-.010 runout.
Another option is to make or buy a set of jaws to accept #3 W&S collet pads, and use collet pads rather than hard jaws. Most mfgrs of collet pads don't go below 1/4", but Hardinge goes down to 1/16 on #3 pads. Pads are $94/set from Hardinge. You can purchase the jaws already machined to accept the pads from several sources, but they're a simple design, made from a standard set of soft jaws, and the ~$450 for a set of the jaws that can be made in 3 hours or less from a $50 set of blank jaws is sorta hard to swallow. That said, you could still buy the ready made jaws and a set of pads for less than the cost of a set of custom made pointed hard jaws. My own preference is to make them on the chuck that they'll be used on as that's the best way to guarantee minimal runout. I made a set for a 10" Kitagawa 10 or more years ago, and I can bolt them onto the chuck tomorrow and know they'll hold a piece of ground stock with .001 or less TIR.
If you aren't familiar with the W&S collet pads, they're really a versatile solution once you have a set of jaws to mount them. Pads are available in round smooth and serrated as well as square and hex bores. In sizes 1/4" and above, US Shop Tools has the pads for much cheaper prices than Hardinge.
