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No, but steel wool and WD40 will remove a lot of active yellow rust and gunk and give you a good look at what you are up against.

Many a razor will clean up with WD40 and steel wool and polish...

I think you misunderstand, you can buff with a buffer or a Dremel, but both are dangerous, it is not a matter of if you will lose control of a razor but when, and how much damage you do to yourself...