Picked this up and decided to check it out.
Can anyone tell me if I could maybe stone down the fixed jaw a1/2 a thou to make this work properly?
I don't use a caliber the same way you do. How much did the new calibers cost?
The problem with stoning down or lapping the main jaws on calipers is that it opens up the ID jaws. The caliper will not be close to .002" accuracy.
I would consider just buying a new set if you use calipers. At 4-6", accuracy will be even worse.