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OK, I get it now.

swarf = bad
slurry = good

It probably follows that it's ok to hone while slurring your words, but bad if you have just barfed on the hone. :D

What about using a coticule dry? Is that even finer than just wet (I assume with slurry is more abrasive than just wet, but where does no slurry and not even wet fit in?) I just received my...