Well, I gave it a whirl with an intake valve from an old American V8 and the results were about what I expected. It gave a true cut but the finish was unacceptable. I suppose if I was desperate i could have used a block and some 180 grit sandpaper to finish. You could tell the old girl was at her limit: lots of flex, feed, feed, complain and then cut some chips. I used HSS as Firebrick suggested, ground pretty sharp with some positive rake, this has always given me the best results in the past. Didn't have an exhaust to try and I'm a-scared to....
I may get a Dremel and try to rig it as a tool post grinder. Maybe rough cut with the HSS and then grind to finish. I don't have the money or space for real equipment like Jack's friend.
Questions for head guys-
-Do you have a rule of thumb for valve margin before you toss?
-Do you ever cut that lip off an intake valve for a performance job?
Also, Hello MShaw, how's everything going In York?

The last time I saw that place was in the rear view mirror exactly 20 years ago.