RE: How to lose a 1/4" of draw length...
Rangeball,
I have a 1999 Diamond Widowmaker that I really like for a hunting bow. From What I know about the hornet (and all Daimond bows) the grips are as you described and I don't know of any other grips that will fit it.
For that last quarter inch, I would just twist up the sting (and you can untwist the cable a little to -- but you tend to loose more poundage by doing that)until it hits that perfect comfort zone. I don't think your performance will be affect too much. The only cams that I have seen this really affect negatively are the Mathews Striaghtline cams -- if they are not right on the money things go south fast. Your Hornet is plenty fast where a few fps is of no concern.