If you have a good sharp pocket knife, turn the blade so that it is facing towards the wood at a right angle, and use it like a scraper. Hold the peg in one hand, and scrape away from you. Turn it around and shave down the part that was in your hand.
The same thing can be done a little quicker with a drawknife, if you have a shaving horse. Only here your shaving toward yourself rater than away, which allows you to be more aggressive.
Or, if they are round pegs you could take a stout steel plate and bore a good clean 3/4" hole in it, then drive the pegs through it to shave that extra 32nd off. Basically a dowel plate. A little trick to use here, when you drive a peg to the end of the dowel plate, just push it out by starting the next peg right away.
Hold one of these suggestions works out for you!
DLB
