I agree, you can take out the bow during installation. When I'm installing hardwood floors, I typically screw down a block, put a scrap piece of hardwood against the bowed piece and pry it straight with a 36" pry bar laying on the floor alongside the bowed piece.

I feel guilty denying you the reason to buy new tools, but in my opinion, sanding after installation is a better route to go. I've belt sanded a fair number of old wooden floors and 340 sq feet doesn't seem like a lot. A half day of work with a quality belt sander. I've taken off a hundred years of floor paint with a belt sander. The ones I've rented from hardwood suppliers have been better than the HD rentals. You can't imagine yourself as Norm Abraham's with a floor sander like you can with a jointer, but I think it's more practical.

Mercy killing would be permissible for the people who took the wood out to replace with laminate.

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1977 300d 70k--sold 08
1985 300TD 185k+
1984 307d 126k--sold 8/03
1985 409d 65k--sold 06
1984 300SD 315k--daughter's car
1979 300SD 122k--sold 2/11
1999 Fuso FG Expedition Camper
1993 GMC Sierra 6.5 TD 4x4
1982 Bluebird Wanderlodge CAT 3208--Sold 2/13