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if a Dremel would be used as a primary grinding tool, that bits would you recommend for grinding this blade into a round point... ? My main concern is that I might crack the thin part of the blade,...

@Magpie: exactly,.. I was thinking round point since this way the loss of the blade length would be minimal (well at least the feel, since the edge is going to be shortened to the same length)..
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alhough it's pretty rusty I think I will be able to clean it, and thanks for the shorty version conformation, I had the same idea..

edit: anyone heard of the Heracles manufacturer?

I got a call from a gentleman today asking me if I want a razor he bought 40 yrs ago in Italy.. aside to my apparent answer and me riding my bicycle for 10 km in pouring rain to reach his house (and...