An old Sioux valve grinder at a school shop where I taught had accessories for re-contouring the bottom of valve lifters, and refacing rocker arm tips. We seldom if ever used them, other than showing the students how they worked. I think those types of operations fell out of favor as labor costs got too high to make them practical. My father used to charge $65.00 labor for a ring and valve job on a 216, and he was among the higher-priced shops in the area.
Jerry