Sounds like you're having fun! I don't know a magic way to remove blemishes from rod blanks except to sand them out and refinish the blank with urethane rod finish (Janns Netcraft). You don't want to sand down into the fiberglass blank material. I use a single edge razor blade to remove old thread when I replace a guide or a complete handle. It will shave off the old epoxy and does a neat job if you're patient and keep the blade at an acute angle to the blank surface. For counterbalancing, I roll/beat lead weights into a cylinder and epoxy them into the butt of the blank. If you want, you can also lengthen a rod by epoxying in an extension that will be covered by the handle. Know what you mean about too many crankbaits - I give mine away like crazy and still have around 100 sitting in boxes in my garage
