With regards to reaming, I always do that prior to finishing so that there will only be lacquer to clean up (with a file as Howard described). Any time you try to remove wood and lacquer at the same time, theres a good chance youre going to cause chips to some degree. Excellent lacquer adhesion will reduce this, but you cant expect it. If I had to remove wood and lacquer, I would bevel the lacquer with a downcut or drawcut using fine needle files (think jewellers' grade/quality).