It all depends on the pad composition used previously, driving habits, and of course if the rotor is wearing flat. I've never once re-machined or replaced rotors on any of my personal cars, but then, if the brakes start squealing or if the build-up pad compound on the rotors starts to delaminate and cause a pulsation, I'm not going to get angry with myself for poor work. Paying customers are an entirely different story! The job has to absolutely positively be done right the first time.
Measuring runout doesn't enter into it - you have to measure runout either way. Properly machining the rotors requires that you measure runout on the vehicle, mark high and low spots, then chuck into the lathe to match, *then* ensure that runout is zero when installed. Yes, it's a pain in the tail. No, most people don't do it. On the other hand, ensuring zero runout on new rotors practically eliminates pulsation problems forever, barring bad castings, so *new* rotors get runout measured and, if necessary, a clean-up machining.
Why is it that there's never enough time to do it right, but always enough time to do it twice?