Stop me quick... I'm thinking again....

I'm not a fan of cutting into such a nice knife. STR has a gadget that allows the wave and it attaches to the thumbstud. It's removable and it doesn't mangle the blade. You might want to check it out.
 
I'm with Kaizen. I wouldn;t mess with the blade. I wouldn;t even send it out to a professional. Better to get an Emerson that's already waved.
 
Heh, I say do it! I waved my 558 a while back!

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Remove the red part first, then work on the blue part.
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556 and 558 waved
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d4 Wave and 558 OD "wave"
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It is scary at first but go slow. Make sure the metal doesnt get to the point where it is too hot to touch. I've done about 7 of these so far for various Grip/Mini Grip and a byrd cara cara. I suggest to use a bench grinder to remove the "red section" and then use a dremel to remove the blue section. Finally remove the rough look with some sandpaper. I got lazy and stopped at around 300ish grit.

All the waves I've done work great! The 558 would be my dream knife if it only had G-10 scales and was a bit longer....but hey we can only dream.
 
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