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Okay, I'm going to clear all of this up. I know it kind of seems like an oxymoron that it does this, but when you grind the extra casting off of the rods it actually strengthens them. My machinist was telling me how one of his customers did the same thing running a 700+ hp engine that he has had for 8 years since he had it rebuilt. Its perfectly fine and very healthy. You can run a lot of stock stuff to high hp applications. 550 isn't pushing it at all.
They are DOOE A rods with the rectangular bolts which are being replaced with ARP bolts.
To grind them down (and I didn't take as much off as you think) I took the small 90 degree grinder to them to get the worst of it. Then I took my dremel (can't remember the correct spelling) to it with a 120 grit. Its the end that looks like this from the top
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I know that isn't it but thats the best picture I can find to describe it. Its like a fan from the top.
If you want any more info then just let me know. I was a little late on posting this, I forgot I posted this though.
So, I am benefiting from this, not the other way around.
*EDIT* And yes I'm going to have it balanced. By the way, the two pictures are of the opposite sides so the balancing pads add to the effect of it being ground down too much. It isn't.