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When I look very closely at the cutting edge with a simple loupe, I'm seeing very very tiny spots/chips at the shaving edge coming right off the hone, whereas in other places of the razor the 'line'...

Would I be able to see microchips with a simple handheld loupe? Or would I need something with more magnifying power?

My Petas leaves a very smooth skin friendly edge. I have no microscope to check for micro-chipping, but my shaves were really good
I couldn't see any damage to the shaving edge with the naked eye at...

I've grid lapped it a couple of times and it seems that I've reached an overal smoother surface on this stone, the stone does have an interesting feel and I am starting to like it
It gives that...

Although the stone FEELS like it's doing damage to the edge, I'm not sure that it does; I might have jumped to conclusions.
You are right though, I have to be fair and hone on it first, despite the...

Mine definitely looks like those posted in the couple of posts above, like Hacker7's and the 2nd picture of Sebrazor's
It feels very harsh, coarse and bad honing on it
I bought it a while ago, and...

Aha, I have the same feel on my coti and it looks a lot like your rectangular one, must be the same vein
Interesting
Les Petas eh?

I have a coticule that feels like that too, haven't done much honing on it since it feels so weird
I should test it some time

I've lapped it quite a bit, but that doesn't seem to change anything