I made up some new compound yesterday, keeping track of the amounts. I've been working with the 7 micron in the shop this morning, and it is working really well (even better than the first batch of 7 micron). So:
7 micron:
Beeswax: 21.2 grams
Stearic Acid 10.3 grams
diamond powder 100 grams
yield was around 3 1/2 cu in of compound (for sizing your mold). I used icicle pop silicon molds, worked well. I'm sure the tenths of grams don't matter, but fwiw that is what the components weighed, actual.
.5 micron (I haven't used this, but it seems right at the blend and pour. I'll post actual results once I've used it)
Beeswax 25 grams
Stearic Acid 12.5
diamond powder 80 grams.
I didn't weigh out the diamond additions, but I did weigh one of the packages, and it was consistent with the declared weights from the vendors.
At this point I'm using the diamond even on steels where aluminum oxide works ok. I just plain like it a lot better than any conventional compound I've ever used (for steel polishing, soft materials are a different matter).
The stearic does seem to make the compound a bit less sticky in use.
REK's comment about maximizing the amount of abrasive per amount of binder is exactly right, (in my experience now, with different ratios). We only want enough of the binders (molten) to allow it to pour, no more.