Hi xhall,
No No No that's definitely not the correct method as the bed knife MUST be ground while attached to the sole plate. Many sole plates are not perfectly straight and as such you will only replicate that non straightness to the bed knife, thus it must be done together so that the final finish is a straight one. The reel and bed knife should be done by the same machinist.
Don't bother with bed knives off eBay, they'll give you more grief than you realise. Let your machinist do that side of things for you.
I think your biggest concern should be that rear rail, how did it ever get bent like that ???
You'll require the services of an experienced press operator and the sole plate will have to be firmly installed while the work is being done so as to maintain structural integrity of the chassis.
Cheers,
BB
