I bought an old Francesco Moser bike with Gipiemme hubs and all was in great shape except the rear hubs which had significant pitting in the cones. I was going to buy another older Gipiemme hub and cannibalize the cones but the mechanic at my LBS (which is an old school pro in his 60's made an unexpected suggestion. He said "in the old days we used to pack the bearings with valve grinding compound instead of grease and work the bearings back and forth until we ground smooth custom seats inside, then cleaned it really well and reassembled it with grease. Now, I had three thoughts on this: (1) Is this why he never made it into the record books; (2) will it work; and (3) really, what have I got to lose as the hub as it is toast anyway. So I gave it a shot, first with 350 grit and it was going really slow as the seats are really hard. So I used a drill to speed things up and switched to finer and finer grits until I finished with some 80,000 grit that left a nice shinny polish. Then I replaced the balls with new ones and reassembled. I cannit say good as new, but WAY better than what it was. Has anyone heard of doing this?