Axe Repair Question (Big old chip / uneven blade)

My walters was extremely thick when I got it too. You need to thin the middle of that "high centerline" in order to make it work. They say it should look like a half moon when you are done filing it, and after a lot of filing I've found that true. That said, the S&N in the first post doesn't have as much profiling issues, you just need to take care of the chips and do a little grinding.
 
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