[ERA Chas]

Yes a lathe would be helpful for the back (assuming no stick-on weights). Fronts a little less because of the valve stems-unless you dismount them.
My last big discovery has been Nuvite but I think Gibbs is excellent for maintaining once you get them to point. Read all good things from users-just never got around to trying.
You can stop at the scuff pad stage which is like the KMP's 'wire finish'. You don't need sparkly but Gibbs will probably help you to keep them from turning 'porous'.