Well I tried it 3 times with one razor, which is not enough for a good experiment but I'll post my observations anyway. I shaved with the same carbon steel razor for 3 shaves, each 3 days apart, without stropping. During each shave, towards the end the shave became uncomfortable. At the beginning of each shave, after 72 hours rest the shave was again good, atleast the cutting ability of the razor was. But it was not as nice and smooth as stropping provides. The cutting ability was fine, the comfort was not. I surmise that stopping realigns the fin and smooths the edge for comfort and that the fin may actually realign itself after resting.

Additionally, on day 2 I cut myself. I haven't done that in well over a year. I have to admit though that I did make a mistake, so that may have no effect.

It felt like the edge was realigned but not as smooth and aligned as it would feel had I stropped. It felt a little like back in the day when I didn't know how to hone as well as I do now.