..... 1 - could I make a fixture similar to a threaded barrel tenon and several inches of barrel that I can screw into the receiver that I could then chuck in my lathe and then cut my receiver face true to the threads ? Would save recutting receiver threads and shortening and recutting barrel threads thus changing bedding. Would also be able to drill a hole in this fixture and apply pressure to bolt to lap lugs and also recut bolt face.......
These are actually good questions in my view because they make us all think.
Please forgive me for rephrasing your question a bit. I think you are really asking "what is more important - mounting an existing barrel true to the axis of the receiver threads, or mounting the barrel true to the axis of the bolt?
Of course, as others have noted there are lots of other considerations. Quality of the barrel and chambering, squareness of locking lugs, quality of existing receiver threading to the bolt raceway, etc etc
Notwithstanding the answers you have already received with good advice from all, I'd like to say that I think it ought to be obvious that aligning all these parameters is best and that I doubt others would disagree. However, if I stick strickly to the question I think you asked, my personal guess (and that's all it is) is that the other variables outweigh the two you have zeroed in on. But sticking to your question, here are a few comments.
A long time ago I read an article (I think it was in Rifle Magazine) by Jim Carmichael (now a world record holder) about accurizing sporting rifles in which he recommended squaring the receiver face to the threads using a lapping jig that fit the receiver threads. His thinking was like yours in as much as that would tend to square the receiver face with the threads. Someplace else around the same time I read a similar accurizing method using the barrel shoulder and recoil lug as the lapping fixture. The results in both cases were positive - groups got smaller - but still nowhere near what we can do today with a full truing treatment on a modern lathe.
I never did try either approach myself, but they are worth thinking about and do tend to support your thinking.
As others have said though, I personally recommend a new high quality barrel, precision threading and chambering, a fully trued action, and a high quality bedding job. If you have a lathe as you stated, why cut corners? Just do the whole job and don't cut corners!
If on the other hand if you just want to experiment please keep us posted with your progress and learnings!