I filed the flanges on my Minitrix F units years ago, and reguaging the wheels wasn't hard. The problem was that they were geared axles, and I had no way of getting the uninsulated wheels off. So, I just pushed the insulated wheels against the gear, stuck the exposed axle in my Dremel, and filed both flanges by eye and NMRA gauge. Reguaging was simply a matter of pulling the wheel back out, with a lot of gauge-checking.
This should be even easier on a steam loco, as long as you don't have to requarter the drivers.