Steve,
I am having the same problems as you with the rolling "bumps" in my drive getting bigger the more I work them. I started with a rear blade and it did a fair job when I finally tried driving backwards pushing the gravel. When I attempted to control with the TPH I would be doing a fair job, get distracted/fed up, and be back to square one.
I recently purchased a box blade to see if dragging material would make smoothing the rolling bumps better. It works better but only when you first start on each pass. It seems to me that as it picks up too much material I have the same problems as you describe. I have been experimenting with starting at the beginning of a "bump" by fully lowering the TPH, dragging to the end of the "bump" very slowly and raising the TPH to distribute the material in the low spots. It seems to be doing better but it may just be that I am getting better on the machine. I only have 35 hours with the beast.
The wife is tired of listening to my thoughts on how to make the job easier. I have a 1200 foot drive with about 1/2 that still needs lots of work. My latest though is to dump piles of gravel in the low spots and push them level with the FEL or the box blade in reverse. If all else fails I can spend the next several weeks doing it by hand. I started cleaning up the road like that waiting to get my tractor and don't want to think about it.
I have heard the use of gauge wheels with the rear blade but I am sceptical as to their value with bumps that are up to a foot high and 10 to 20 feet long like I have.
...Derek