I just did this Poncho! it's easy.
we used a "single point hand held diamond dressing stick" (about 15 bucks depending on the size of your wheel)
we set up a jig to do a "double compound 10-15 degree angle" (for the diamond stick) sounds harder than it is lol
because you need too have the point of the rod (diamond) dragging 10-15 degrees left or right (never point into the wheel but
DRAG across (or you'll wear out your diamond tip fast!) and 10-15 degrees downward.
do slow even passes about 1/2 to 1 inch per second swipes, little at a time and you will see the valleys and peaks disappearing!
watch edges of the wheel when you make your swipes, do not start in too much or else you will round-off the edges, go slow.
it's really not hard bro, wear good full faceshield (stuff flies at you) and your wheel will look like new!
after we used a "Friable" Silicon Carbide "Dressing Stick/stone" to clean out the gunk after each use (so you don't have to re-shape it later so often) when the wheel gets "shinny" or full of "stuff" it needs a cleaning,
I just press the dressing stone up against it to clean it out, works fast.
here is a site for you to see everything more accurate;
http://www.diamondtooling.com/article_diamond_usage_01.htmlHonest it was my first time and it came out great

safety tips:
-always let your grinding wheel spin for a minute or two with you and anyone/thing off to the side, clear of the front. If it is bad
it will usually spin the debris forward.
-watch for a level, even spinning wheel when you first start it, I spin it manually first to make sure before applying power.
if it is wobbly I won't use it, it is dangerous.
-always wear safety goggles or a faceshield!
-no loose clothing, gloves, long-hair, rings, chains, any jewelry near the spinning wheel! (you knew that

)
-after long grinds, check to make sure your motor isn't too hot, allow to cool for better use and life.
-don't get your fingers too close to the spinning wheel while grinding! pay attention to what your doing and
remember buffing wheels seem to catch people off guard a lot! materials can get pulled into the cloth easy!
be careful.
-never grind on the side of a wheel (unless it is designed for that, most aren't!)
I made a couple of high-speed steel bits for our mini-lathe and they came out great! and you need a true wheel
to do it. It wasn't hard buddy.
Good Luck and be safe
