#1
Should I do it?

I've got several reasons to believe that I should. I love big frets, I love to bend, and I love Yngwie Malmsteen. So should I?

The guitar I'm thinking of doing it to has really old worn out frets, though, and they're far too small for my taste. Should I replace the frets before scalloping, or after? Also, how should I make sure each "scallop" is the same size? Should I do any other modifications while I'm at it? This guitar has a locking nut, so I'm thinking of getting that fixed, so that my tremolo will stay in tune better.

If you want pictures, I'll post them.
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#2
Definately re-fret before you scallop, and as for making sure they are all same depth measure about 3/32 from the edge and draw a straight line all the way down the board and use a round file and sand paper to do it.

Bass-man
#3
I've decided against scalloping that particular guitar, as it has sentimental value as being the first guitar I ever bought from a pawn shop. I just played it a while ago, and it plays much better than I remember.

I do have a project guitar that I could do it to, with frets in much better condition. I think I might make it into a YJM replica of his olympic white strat with the rosewood fretboard.

Sounds like a project.
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#4
You may want to start with a half-round rasp and get it to just above the desired depth, then get some 300 grit sandpaper and smooth it out, then move on to a higher grit, like 600.