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You do want to get that swarf off, it may be from you tape, if using tape.

Either way it diminishes contact with the steel and the stone, affecting performance.

As with most things, it is...

A Scotch Brite sponge works, as does almost any stone or 3-400 grit diamond plate.

It depends on what you want to accomplish, if it is just getting the swarf off a Scotch-Brite and/or a small...