Good info for more than headlights!
Often I need to round over a small dowel end and chuck it up in the DP then use a sanding block. Your jig to center drill and install a stub would allow me to use a Dremel for greater control on shaping. I could also just use the Dremel bit with the cone shaped screw (for the felt buffers) and screw into the dowel's hole.
When working 100 of these tiny buggers, anything to jig up the process is welcome.