Just for kicks one evening, I tried my monster DMT 120 grit on a razor. Yeah, that's right. One hundred and twenty. :)
This blade had been ground down to remove a frown, so the bevel was completely gone. I taped the spine and did some laps to see what would happen. It removed steel in a hurry, and I was able to rough in the bevel in a few minutes.
That razor took a few sessions to hone up, but it turned out to be an amazing shaver.
I can't say I'd recommend this, but the blade didn't shatter, either. :)
That was an extreme situation--putting a bevel back on a heavy-ground blade. In most cases, using something really low in grit creates more work than it saves.
Just my 2 cents,
Josh