I have drawn that cam several times, and, just can not get it so you can understand what I'm trying to say.
Anyway, take the sharpener, and start it up without a blade. Then run it as slow as you can. Watch the cam as it lowers the wheel down, and, imagine the blade gullet as the wheel stops dropping.
NOW, just stop the sharpener at that very spot. You may have to run it a few times to get what I am saying.
JUST as the wheel is about to hit the lowest part of the drop, make a chalk or soapstone mark on the cam, right where the roller is sitting. Mark the side of the cam.
NOW, turn the machine by hand, NOT by power. As soon as the wheel is about to start rising, make another mark on the cam, same side.
This area between the 2 marks, is where you need to grind a LITTLE bit off the cam, so it allows the roller to drop the wheel a little further down to get the gullet. DO NOT take off a lot, A little bit will allow that wheel to drop down quite a bit. I did ours right on the machine. Keep the curves smooth, so you don't get any bumpy jerky shapes in the gullet. You are going to take off less than 1/16" of an inch off that cam. Remember, that area is not very long on the cam, so, a little at a time. !!!!!
DO NOT change anything else. The profile will remain the same, just changes the drop of the wheel, into the gullet. IF you grind off too much, now you have a problem with taking out too much gullet, and, need to change the profile shape on the rest of the cam.
GO SLOW, PAY ATTENTION, CHECK AFTER EACH GRIND. REPORT BACK HERE.
I got lots of faith in y'all doing this correctly. You have caught on so well, with everything else, you can do this, too. Chase all the kids and distractions off, then, go for it.
Changing the wheel should be done, OR, shaping the wheel should be done, before you attempt the gullet drop grinding. Once you have this all working correctly, all you do is adjust the whole motor assembly as the wheel gets smaller. Nothing else needs to be done.
I would definitely talk to whomever you buy blades from, and get them to weld the blades correctly, or, go to another supplier. Did you ever contact Kennesaw, to buy Munks blades ??
If y'all would like to see more photos, just say so. I thought the kids would like them.