Unwanted vibration of the tool with respect to the workpiece, known as chatter, can damage machine tool, cutting tool, and the surface finish of the workpiece in a machining operation such a milling. These vibrations could be avoided by reducing the depth of cut, but this approach hurts the productivity and reduces material removal rate. Previous studies have established methods, known as stability prediction methods that provide that enable using large depth of cuts while avoiding chatter. The calculation of stability lobes commonly starts by measurement of dynamic properties of the machining structure. This paper investigates an alternative approach, in which vibration frequencies gathered during test cuts with the target machining system are used to identifying the modal parameters of the machining system in its operational condition. An earlier method that was based on a one dimensional dynamics model is modified to use relationships developed for a two dimensional model that describes the dynamics of spindles and tools with axisymmetric dynamics. This approach improves the stability lobe prediction considerably as shown in results.