You are talking about the "Poor man's Delrin Spring Guide"http://www.gatewaytoairguns.org/GTA/index.php/topic,8330.msg68150.html#msg68150Sounds easy enough and I will eventually give it a try since I don't own a lathe.I have read good reports about it. The above link says no appreciable wear within two years and about a thousand shots. I too would like to hear of report/updates on this process.
What do you do with the sacrificial pieces that get cut/rubbed off during use? A spring expands as it is compressed. A tight fitting stud on the I.D. will allow the spring to expand while cocking it, and then "capture" it when it releases.You can have a fine fitting Tophat that still rotates, and there's nothing wrong in my book there.