I'm making some bottle plugs and was trying to come up with a neat way to form the lip. A drum sander gives the radius, but making one to work in the lathe and using the dust collector is what I really needed. So I made one.
Start with a blank with the diameter you need. True it up in the lathe.
I used the cloth backed belt sander paper.
Cut the belt at the seam.
And cut it down the middle. I got 4, 12" long strips from this.
I took one strip and figured out the wrap angle. Taped one end with electrical tape.
Made the wrap and taped the other end.
Took my blank.
Turned on the lathe and dust collector and started to form my lip.
Rounded off the edges.
It works for smoothing out other edges as well.