Paul, I don’t suppose this is on an ML10 / Speed 10 is it?
I have the same issue – the OEM Myford 4-way limits you to 6mm tools (or just over, probably 1/4″). I too have been contemplating shaving ~1.5mm off something to open up the world of 8mm tooling, for which there are many more options available.
The question appears to be what to shave the metal off. The OEM toolpost probably doesn’t have much to go at if you are wanting to retain stiffness in tool clamping. I have been contemplating more drastic action of skimming the 1.5mm off the top of the cast iron topslide body, which by contrast seems to have loads of spare material in it. Not decided which approach yet, but I know the toolpost is about £100 off Myford, so maybe finding out the price of a topslide body will make the decision for me!