Al:
Try making what I call a book sander. Two pieces of 1 to 1 1/2" thick wood that are hinged together with a 3/8" or slightly larger hole drilled down the center. Then line the two pieces with about 80 to 100 grit sand paper. Chuck the shaft in an electric drill, place the footed portion of the shaft into the book and start sanding, applying light pressure on the two halves of the book, it will make a oval shaft round in no time, go slowly as it will remove material fast. Beware you might loose some spine, but that will depend on how much material you remove.
Bob