I believe you are on the right course of action but I am not sure how you are going to use the drill. Seems as though no matter how careful you are you could take off too much. I would use lapping compound first.
When you're dead you don't know you're dead. It's the same way when you're stupid.
Balance - 31.0 cm, Weight - 358 g, SW - 346 Kgcm^2