It's not that difficult to get results. How nice the job looks when complete will depend on carefull pre-polish and then set-up.
The higher the polish, the brighter the completed work and more 'jewel like' the appearance when it reflects the light.
A general rule is to overlap each cut or spot. Do that by advancing the tool by it's radius and jewel the next, and the next,,,
Then back to the starting point and the next row is placed below the original line (again overlapping it) by the radius dimention of the tool.
Each cut then advanced by radius again for each cut as before.
Always start the lines at the same end of the work piece. Don't go down the line, jump to the next row and come back to the starting point. It won't look right.
Cut a line, back it up to the start, index to the next line and cut that one. Step over any thing in the way with the tool, but try to jewel up as close to them as possible. Blank brightly polished areas wil really stand out in the middle of the pattern. Uniformity is a real key.
1/4d tool,,advance by 1/8" each time.
Each new row is 1/8" below the preceding.
This radius rule will give an extremely tight and brilliant pattern. It's time consuming though and the slightest miscue in the finished pattern really shows.
Most factory work and even alot of custom is done in a much looser pattern.
The advancement for each cut is much more so the overlap is less. (quicker to do).
Every other line is begun at 1/2 the measurement being used as the advancement. This places the cuts in a pattern that does not show the small imperfections in placement as the first method will.
Some is done in an almost randon advanced pattern that can look good if the cuts still overlap each other. The horizontal or lengthwise layout should remain consistent though.
A 1/4" dia tool is good for use on a bolt body. Anything much larger won't cut a circle on the rounded surface. (Assuming you're using the dry abrasive sleeve tool,,not the wire brush and cutting compound method).
A drill press is a must in the very least. A compound rest to get steady, repetitive advancement of the tool each time is a real asset.
A mill with it's compound table is often the choice for the work.
But it can and has been done with the simpler tools.
If you get all done and don't like it, you can polish it off.
But you'll see the results of it's original intended purpose.
That being to just slightly relieve the surface to allow very close fitting parts to move and retain lubrication. Those little swirls take some work to stone out if unwanted.
...They seem to disappear with little use when you don't want them to.