You should ask the equipment manufacturer for their exact specs. Any runout on either end will cause vibration, which can reduce bearing and seal life. Typically on a shaft that size you should look for TIR of 0.002" (0.05mm) on the critical diameters. Measure bearing fit diameters first to make sure they were not damaged when removing bearings. Set the bearing fit diameters on rollers and check the shaft from there: Drive end coupling diameter, impeller end at the shoulder, seal area and center between the bearings. Checking the shaft with the bearings installed can be misleading due to internal bearing clearance.
Hope this helps you.

Keep the wheels on the ground
Bob
showshine@aol.com

LabOwl,
We use 0.0005"/ft. as tolerance for straightness.
As long as the bearing fits are within tolerance, shafts may be straightened and reused.

Hope this helps!