The difficulty you will find is grinding them all to the same exact size. It is generally much cheaper and less time consuming to just buy the inserts and throw the old ones away when they get dull. The time it would take to set it up and to adjust the machine could be much better spent turning perfectly good metals into chips and object De Arte'. Me personally I would look into a multiple edge carbide insert that is common (Spelled cheap) and use them. I also try to buy any tooling I get with inserts that can be obtained off of ebay and from other wholesalers. A box of ten bits with three edges each will last the average home machinist for years and years. I also engrave the insert numbers on every tool I have to insure that in a while I can still get the right insert without risking possibly ordering the wrong size. Been there and done that, that's how I learned to use my little engraver to save time and money later on. Because it never seems to fail that you either break an insert or they are too dull to cut on a Sunday when you planned to sit in your shop and tinker all day...
Bob
