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Others have posted better luck with the 3M wheels for the dremel that come in a broader range of grits. I haven't tried them yet myself.

Someone who has should likely comment shortly... or at...

The dremel is a blessing and a curse with regard to rust and pitting.
My latest attempt has been the 400 grit flap wheel.

It does a tremendous job of take a pitted wedge to almost satin at 400...