Tony,
Yes, I do believe the Jemico red russian is that company's high end strop. The leather is smooth, yet tacky, and thick. It seems to take no time at all to get great results with it. The one I have is of the loop type construction, with a handle at the bottom. The back side of the loop is linen, which seems much thinner and more flexible than most linen strops I've seen. I don't know if this is good or bad, I mostly used the leather. These are GREAT strops.
That said, I am now intrigued and considering adding an Illinois 361 to my collection. My poor Jemico had the bad luck of being one of the earlier strops I bought, and as such, I have sliced it and diced it a little much.
I also don't know what kindof fabric the Illinois "linen finish" strops are made of, I am leaning towards nylon. I doubt if it will ever "soften up"
Of course, I've been wrong before....
John P