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Sounds like you either have too shallow an angle or you twist too much when you're slicing or both. Try raising the angle a few degrees per side and stropping it then be careful to slice straight instead of wiggling it through the strap.
What do you mean by head space, I have a feeling that it means something different than with guns.
Also, as far as a microbevel, it should just look like a hair laid along the edge as far as thickness right?