Paul,
Much better than the first.
As for the 'ring', not an unusual occurrence on these sorts of platers, also happens on Banana or Angel Wing forms. It occurs where a. the wood wants to flex, and b. where the turner starts to feel a little 'unsure'!
It's not unusual for people normally finish off sanding these by hand.
Or as previously suggested, glue sacrificial block to the four sides, turn it round then cut away and clean up the sides.