Yes, I'm making two pairs of shoes at once here - I got two pairs of lasts, and I'm going to just power on through two pairs at the same time. CRAZY!!! I know.
Once I got the leather glued on, I used my brand-spankin' new belt sander to smooth down the edges. It's important here to keep the curved shape of the last, and just build on that, rather than change the shape.
Once it was sanded down, I coated it (liberally) with Press Cement/Toe Hardener, which gives the leather a nice hard glossy finish. My initial sanding wasn't so great, so I sanded some more, by hand (and gave myself a really bad blister on my thumb) and re-coated with the toe hardener.