A bit of misinformation here, will try to correct.
Lighter cut on lathe is often harder to do than a heavier one. moreso here as the disc outer surface may be workhardened..
A double cut tooling setup, probably eliminates most of the problems.. I built one for that, but have not yet tried it.
To thin the rotors, they should be tunrned, then ground.
Grinding is a slow process, a 3 thou cut is very big for a lot of grinders, would take many pa$$e$ of a grinder to thin a disc. Usually taking a thou or so per cut.
Next not just a blanchard grinder, must be a rotary grinder, ie a flywheel grinder that will be used (if doing both sides). The part will be clamped in center with cones or adaptors to grind outer face first, then fipped to do the back.
I disagree that turning will not take out the warp, rotors are usually turned on a lathe.
Also for resto work, the original rotors were Turned NOT Ground.
a bit of misinformation here...
A rotor can be held with out centering cones, most general purpose grinders will be able to set the center of rotation close enough to miss the center casting with an indicator on the center bore.
Turning both sides will double the applied forces on the holding fixture, requiring it to be twice as strong as single sided cutting. It will increase the likelihood that the operation produces a part with parallel surfaces.
If you want to drill your rotors grinding will allow the rotor to be drilled first. If you are turning You should drill after finishing as the lathe cutting tool will bounce as the turning tool crosses the drilled holes, resulting in surface irregularities.
Honda could turn the rotors because they had the blanks with out the mating hub and they could have the part annealed (stress relieved) just prior to machining. Also for production work special lathe chucks would have held the part securely for good production rates and good part quality.
If you want an accurate restoration it might be possible anneal the part again. also there are Ceramic insets for general purpose lathes. Which would help reduce the loads reflected into the cutting tool and its support.
It would be interesting to see how they would cut these rotors, cutting pre-drilled rotors would reduce the life of the ceramic insert significantly, lots of $$.
Again I am not saying the rotor cannot be turned, I am saying it is not as easy as an automotive rotor. Who ever does it needs to be experienced turning stainless.
I have been working on a dual disk design and have solid models of the center hub and rotor just about done, I want to tell you the intersecting surfaces on that hub are damned difficult to draw...accurately anyway.