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I don't really do this kind of work, so I can't give definate advice. I know you can get buffing wheels for the dremel that should allow you to get pretty close to mirror after high grit sandpaper. ...

I agree on the smile part. A smile is not a defect, so there is nothing to "fix." A smile can be removed if you're not a fan of smiles, but that would be seen as "damaging" the razor... in a way.
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