Its not worth your trouble, believe me. You will use up quite a few expensive ceramic inserts while turning off a hardened HSS shank. Hard turning is very difficult over interruptions, too, if the tools happen to have weldon flats cut on them.
Last, but not least, you have to actually chuck these tools on the flutes in order to turn down the shanks. Any inaccuracy or movement of the tools in the chuck will cause you to lose all means of determining an accurate setup. The final result will be a wobbling tool, quite buzzy at high speed.
First you get good, then you get fast. Then grouchiness sets in.
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)