Whether a grooving tool, or a parting tool, each SIDE of the tool needs to have clearance. (Which is why a parting tool narrows from top to bottom if you look at it from the front. When mounted inverted in a rear toolpost, it narrows from bottom to top )
Assuming that you intend to continue using the boat holder:
Rather than grind the top face of a parting tool to bring it down to centre height, I would grind the whole length of the bottom face. If need be make up a holder with a deep enough groove so that when the holder contacts then grinding wheel, the tool is at correct depth. In this way, any errors will have minimal effect on the angle at which the tool sits.
You could mount the Boat in the 4 jaw chuck and turn the required amount off the flat face on which the tool sits. This might be the more accurate way of lowering the tool to centre height.
How much to remove?
Since the blade is tapered, you will need to make a clamping piece with a taper to match that of the blade so that when clamped the wider, cutting face, is horizontal in BOTH planes.
The clamping screws will bear on the upper face of this clamping piece.
If you do not have milling capability, you will need to file the taper. The blade can act as your gauge.
Mount the parting blade on the boat, using your new clamping widget, (to cater for the taper ) and measure the distance between tool tip and centre height. If in doubt take off a little bit too much. You can shim UP but not DOWN.
(Although the tool is mounted inverted, the logic is still to start with the tool below centre height and shim to bring it UP to centre height, just as in a front toolpost )
Remove too little and it will still be below centre, but cannot be shimmed to bring to centre height..
Grinding a parting tool with the front face at an angle (viewed from above ) should allow parting off so that there is no pip on the parted off piece. BUT the swarf is wider than the groove being machined, and so liable to jam, particularly with large diameter workpieces as the groove deepens.. Hence the advice to grind the front square to the blade. So when presenting the blade to the wheel to grind the front clearance, keep the blade at right angles to the wheel. The radius of the wheel will provide front clearance, without it being excessive.
Excessive clearances leave less metal behind the cutting edge to conduct away the heat so that the tool heats up, softens, and wears more quickly.
HTH
Howard. Predictive spelling!!!!!!!!!!
Edited By Howard Lewis on 23/07/2021 16:02:03