Wheel selection / prep questions.

[Prologix]

So far, I have trued all the hubs.
Next, we tried to sand a wheel tread and the dremel was too fast, started a burning smell as soon as my son touched the sandpaper to it. We stopped. Any suggestions?
This morning we chucked up each wheel and found 5 out of 22 that did not wobble at all. (Need 6-8 plus 4 for me would be nice.) Have about 15 more to look at.

Is zero wobble more important that equal bores?

Tools I have:
Pro-Wheel Mandrel
Pro-Hub Tool
Pro-Bore Polisher & Wheel Bore Polish

Any advice would be great.