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5 or 10 laps have never worked for me. usually i need a good bit of finish stoning to get back to new edge feel.

I don't think you will see any rust, but the unavoidable fact is it happens when we shave. It may be true the strop(s) remove this, I just don't know.

We do know that eventually strops cease...

More water = more rust. There is no lapse it begins instantly. Heat accelerates many other chemical reactions, I suspect the same is true for oxidation.