Longshot,
The terminology seems to be in flux. "Bumping" and "setting the shoulder back" with an FL die seem now to be used interchangeably by many, the YouTube video makers in particular.
As I understood it, the original bump concept was to move the shoulder back only. This was done for custom rifles by taking a die blank and using the same reamer that cut the rifle's chamber to cut the shoulder bump die. IIRC, a separate neck-sizing-only die was then used to size the neck. I've never done this, personally, but do recall the die blanks being advertised in Precision Shooting.
Forster makes its bushing bump sizing dies to do the above. Some users say they need no case lube, since the sides of the die are not being sized, though I would not do that, for the die's sake. I don't know how Forster is choosing their die ID to prevent pressure on the shoulder from swelling the sides of the case beyond fit. Perhaps there is enough springback after a short bump to prevent that becoming an issue.
The problem with the bump system, as described above, is that there is little to no chamber clearance once a case fattens enough to be snug in the chamber. As Bart has discussed before, you want at least half a thousandth narrowing of the case. This is because most cases don't have perfectly uniform wall thickness, so they expand more on the thin side when they are in the chamber. This results in what Merrill Martin and the late Roger Johnston called a "banana" shaped case. It will not be on center if you put it back in the chamber that way. Re-narrowing it at least a little is the only way to ensure it has the opportunity to self-center when the firing pin shoves the case shoulder into the chamber shoulder.
So, it seems to me, using the FL die to set the shoulder back a thousandth (or two for magazine feed) remains a better accuracy option than bumping.
Bart,
I think Mr. Guffey is using the grinding tools he mentioned earlier (I infer that he has a pretty complete machine shop) to customize gauges. I think he meant that has an infinite choice of sizes between any two limits that he could grind a guage to by doing that.