If the starting diameter is .870,even if you are taking it to .835-.840,you only need to take a .010 cut PER SIDE.
You'll be better off dialing in .005,because your machine is almost always a 2 to 1 ratio,meaning it takes double whatever you dial in. Many full sized lathes are 1 to 1,so if you dial in .001.it takes half that off each side. I'm also not 100% sure yours will take a .010 deep cut on SS unless you have a GOOD carbide cutter. Take small bites and sneak up on it.
If you take more than that,rest assured you will scrap that blank,because the filing,sanding,and buffing will need at least .010 worth of material to complete.
I've never done a single SS joint,simply because I don't have a big enough machine to do them.
However,I've done enough cosmetic polishing on stuff to tell you with complete certainty that unless that blank was cut on a CNC,with perfect feed rate,and the right cutter,then ground and polished,that cutting it close to size with your machine will still need a minimum of .010 extra to polish it back out. Tommy D.