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Yes they can be. The perfect example is the Spyderco Ultrafine. Robert swears by those. There's also an Idahone but they're relatively difficult to find. I want to try the Lee Valley $35 alternative.

How about this cute little set from Lee Valley:
http://www.leevalley.com/wood/page.aspx?c=1&p=32992&cat=1,43072,43079&ap=1

It seems perfect and at $53.50CA, it won't break the bank.

You could use it and get a fairly sharp edge, but I do have a couple of concerns:
1) For razors, the hone is supposed to be lapped perfectly flat. Honing knives may mess with that.
2) I wouldn't...