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.
Remove the red part first, then work on the blue part.
556 and 558 waved
d4 Wave and 558 OD "wave"
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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