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Correct. If you do let us know what happens!:)

When you use edge leading on paper just go slow. It is very easy to slice the paper. Be sure to tape the spine with electrical tape when you are using the coarse sandpapers.
I would suggest trying...

For really blunt/dull/bad edges you can use wet/dry sandpaper.
I start with 1000 grit but some people start with 600 grit.
This will remove any old oxidised, chipped edges and leave you with a...