What tooling would I use to create a groove that a snap ring would fit into? For instance if you had a bearing in a bored hole you'd use a snap ring to keep it seated. Currently I'm using a boring bar that I've ground down to the right profile but it seems like there should be an easier way to do this, particularly for very small grooves, like to hold a 16mm bearing in place.

G02 or G03 With a cnc mill and a small woodriftkey cutter If you have a cnc mill a lot of the hard become simple With a manual mill start with the tool at the size of the bore and centered, X&Y each direction to get some clearance for the tool then set the cutter larger and repeat after about three times you can go to X0Y0 and advance the tool out a little each time and get a round grove The shorter the shank on the tool the better.
Or second op in a lathe .
Good Luck Kevin

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Ah, that's pretty much what I did with one of my boring bars. I didn't know if there was an easier way. For $80 I'll just keep grinding down boring bars. Thanks for the link Bee.

.....I didn't know if there was an easier way. For $80 I'll just keep grinding down boring bars. Thanks for the link Bee.

Spending more money is the easier way...me? I ground boring bar tips, but on occasion I have take a tiny tee slot cutter and monted it like a boring bar in the lathe and just used one tooth.

I've had good luck with Harvey Tools http://www.harveytool.com/products/product_detail.php?product_id=23500&category_id=1&product_family=Keyseat+Cutters

Chris Kirchen