Not only can you get really fine grit sanding disks for putting a nice shiny edge you can do a thick 40 grit belt unto disks that remove tons of rust and other material. You can actually use them to sculpt with micarta.

I just redid the finish on my stripped SS4 again tonight because I use her hard and it had tons of scratches.

It took about 10 minutes and looks pretty good to. I used those 80 grit flapper sanding wheels for the dremel and first did the whole flat part of the blade.
Then I went back and forth from 1 end to the other in long smooth strokes to make it uniform. Then I did the other side. It looks great and is tough and easy to fix. I left the INFI dimples on the part that was not flat ground for some contrast.

I got the little flapper sanding disk in a 5$ generic dremel bit set.