I thought I'd add something to this thread.
I bought a set of (5) erasers from Stewmac. http://www.stewmac.com/shop/Fretting...newest#reviews
They do work as advertised, but the 1000 grit (final size) eraser is still not fine enough to call the fret polished. As stated above........micro-mesh is need for the final finish.
Here are some pics I took doing one fret. This is on a neck that has some slight scarf joint shrinkage and is therefore already in need of a re-fret, I'm just using it to practice my skills.
The set comes in 5 different grits (#180, #400,#600, #800, #1000) I have included pics at each stage including fret filing.
16th fret after filing:
You can see in the last pic that I still have a small amount of file markings on the fret, which means I have to start over.......... oh well, more practice.
In all, I think these erasers are nice tools, but there are a few downfalls. Most importantly the set needs two more grits included- a #300, and a #1500. Adding those two sizes should eliminate the need for micro-mesh.
The other problem I have is that, like all erasers, these have small bits come off as you use them. It doesn't take long to wear down the sharp edges leaving you a rounded off corner. I don't see them lasting a very long time (5 or 6 fret-jobs maybe?) but they should be great for someone that likes to do their own guitar work as I do.