Hey there!
i just did the entire neck on my Schecter C-7, and it turned out great! It's really not too hard. It seems intimidating, but don't be scared, it's a cinch

. All that you'll need is some 80, 100, and 200-250 grit sandpaper, 0000
steel wool, lots of masking tape, and anything round that will fit between whatever frets you're doing { i used a whammy bar for the very
upper frets, and mostly a pen wrapped in various degrees of electrical tape for the rest }. All you need to do is wrap whatever your round object is in sandpaper { tape it together if you can, it'll make it easier on your hands } , put a couple of layers of masking tape on the frets, and begin going back-and-forth with the sandpaper-covered object, constanly brushing any wood dust off of the section you're working on and off of your sandpaper. Start with the 80, then when you wear it down to close to where you want it, finish the scallop off with the 100. Use your 200/250 to get it even smoother, then go over it with 0000 steel wool. Be sure to keep an eye on your taped-up frets, that sandpaper can do some serious damage. Oh, and after you remove the tape from the frets, use that 0000 steel wool to get any tape gunk off and buff to a shiny finish { don't use too much pressure, you may make the fret uneven }. Like i said earlier, i used a plain old highlighter marker wrapped in electrical tape to fit whatever fret i was working on. You could just go and buy some wooden dowels, though, that would ensure the most accurate scallop. Oh, and you really don't need to dig them that deep, if you ask me... i dug mine to where they were just barely touching the tops of the side markers, and my fingers haven't touched the fretboard since. Be prepared to spend about 15-30 minutes per fret if you want to get it right, though.... like i said, though, it's not tough.
For curiosity's sake, what kind of guitar is this? And by the way, has anybody scalloped an acoustic / classical? That would be neat.
i hope this helped you out, feel free to ask any questions, or tell us about any snags you come across.
...Ben...