Chris, I believe you meant "buffing" not "buffering" a tire. It is also called "shaving" the tire here in the States. This is mostly done on a brand new street tire with full thread. The shop shaves almost all the thread off the tire-down to the legal limit for the sanctioning body (typically 3/32") The amount removed depends on if the sanctioning body measures the tire pre or post race as to how much can be removed. Removing the thread makes the tire last longer because tire "squirm" is reduced. Squirm results in heat build up and thread chunking. A shaved tire is also much faster than a new tire.
Guys, did I miss anything?