Like Tom said, I think the speed of a table saw is much faster than what most sandpaper disks recommend.
I use the miter or band saw to cut the blank to within 1/8" of final length, bring it to within a gnat's hair of final on the disk sander, and then a pen mill to shave the gnat.
Someone did a really great group buy (from Rhiezing, or however you spell it) on pen mills a while back that I was lucky enough to get in on and got several 3/4" cutter heads, a full set of mills with the different sized pilot shafts, and a few extra 7mm shafts to make my custom-sized stuff - all for about the same price as buying one set from the regular sources. It's made my life so much simpler; my tubes are no longer a pain to trim, and they all come out perfect and much faster than any other method I've tried. I've had to find other things to blame my mistakes on since then. My stupid HF tools keep wrecking pens!
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Yeah, that's it, my tools are the culprits!
I highly recommend getting in on the next pen mill group buy. I'll do some rooting around and see who it was that did the buy.