Could you also use tool steel.
The thought is there is a reaction to the carbon in the steel and the carbon in the diamond resulting in both wearing, obviously the diamond wearing a lot less.
A few thousandths though is going to take a long time. And destroy any cutting edges on the diamonds themselves.
This was posted from another forum which shall not be mentioned.
"Above posts are 100% correct. Iron and carbon have a very strong chemical affinity. When diamond is used to machine steel, be it with a diamond grinding wheel or a PCD lathe cutter, there is a reliable tendency for the two materials to bond at the molecular level, which carries a minute amount of diamond away with the chip. Takes no time at all for the diamond to be rendered useless as a cutting tool. I was talking to my dad, a reservoir engineer for an oil company, and he told me how well drillers had encountered this phenomenon with diamond tipped drill bits. The bits would work great until they would hit a layer of pyrites down the hole, whreupon they'd fry very quickly."