Man, that scares me, but it could work fine. I would need to hear from a lot of antique gun collectors first. I have an old Colt single action that someone took I presume steel wool to, and really scratched the heck out of it all over.
Yeah, I've been collecting for 40 years. Just have never attempted restoration. But it might be worth me trying it on a discrete area, or an old junky gun. I don't like to touch my Colts with anything but oil!