Something to consider - I used to use lapping grit, but nowadays I use spray adhesive to glue a strip of 600-800gr wet and dry to a 25mm lapping bar instead. The paper thickness brings it up nicely to 25.4mm (1"), and it cuts fast and clean compared to lapping compound. It also means that you don't have to worry about the lapping grit embedding in the rings if the rings are softer than the bar (such as with aluminium rings).
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