Denny, use a die grinder on the compound rest, and set it for a 1 Degree angle. Center the lifter up in a 4-jaw chuck and use a fine-grit Cratex rubberized wheel in the grinder. You'll get a mirror finish without needing any coolant. That's how I finish gun parts that need a super-fine polish. I use a 22K RPM electric die grinder for that type of work. Be sure to cover the lathe ways with a tarp or some other way of keeping the grit off the ways, and clean up thoroughly afterwards.
Jerry