The different grits, as in sandpaper, relate to how fine or small the grooves will be after adjusting the cover. The 4000 will make the 'sanding lines' so minute where as the 500 will make them more pronounced.
Knowing where or at what grit you want a ball will be the toughest part. I'd always start off with the 500, working up to the final grit you have chosen. I'd also suggest to make sure you use the "six side" method that way you know the whole ball is done and should be all the same.
Once you start with say 500, I'd clean the ball well, that way you'll get out/off as much oil and gunk that you can and will end up with an almost new ball. Fine adjustment, say going from 1000 to 2000, I would not start at 500, just make that small adjustment but always clean the ball once you start with whatever grit you decide on, killing two birds with one stone so to speak.
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az guy aka: R & L Bowlers Pro
rlbowlerspro@cox.net
www.rlbowlerspro.com