I come to this very late, and quite ignorant … but my suggestion would be to just ‘bite the bullet ‘
- remove the bulk of the material by whatever rough grinding process you can contrive.
- turn the spigot to size using whatever exotic insert might be required.
I don’t know the magic numbers, but I do know that Thornton’s lovely HSS horological cutters are turned to shape.
MichaelG.
.
Edit: __ first magic number is on the website
All our products are handmade using MC12 high-speed steel (HSS).