Honestly, I still haven't made up my mind. Sure, I am leaning toward the facing option since it will allow likely allow me to use the headset and/or not require the purchase of a new fork with longer steerer. I did spend a couple hours looking into new forks yesterday. I asked because I wanted people's opinions, and thought someone might say "No, facing's not necessary, all you have to do is X, Y, or Z and the you'll gain the extra 1-2mm."

And, to boot, before I do anything, my first step is now to see if the ball bearings I have are too large.