Nathan Dexter wrote:ARMA DC had a nice article on wasters, I don't know if its still there though.
Actually, the link on the ARMA DC page just points to the article on the ARMA Ogden page that Brian mentoned -- which is a great article, by the way. I've made several wasters with that design and it works wonderfully. If you want to adjust the balance on the waster, you can drill out some of the pommel and fill it with melted lead fishing weights. Typcially I've been using a 1/2" to 3/4" inch drill bit to make the hole. Then I clamp a piece of wood to the bottom of one side to hold the lead until it cools. I melt the weights in a stainless-steel bowl over my gas stove, pour it, and wait for it to cool. The wood may smoulder a bit, but I've never had problems with it catching fire. I cut two circular pieces of wood and glue them to both sides of the pommel to cover the hole (after the lead has cooled, of course). Then I round off the edges on the whole pommel to make a nice smooth disc. That's worked great for me and after some experimentation I've been able to get the waster at about 3 lbs with a 4" center of balance.
Be sure to be VERY careful when melting lead. You obviously don't want to spill any on you and I would highly recommend wearing gloves and any other protection you might need.
Hope that helps.