Do yourself and that etching a favor and get a tub of 3M Marine Metal Polish and Restorer. It will work miracles and NOT remove etchings. Polish BY HAND with a rag and some of that and you won't believe the difference. It is not the cheapest thing in the world, but it is well worth every penny of it.

...and while you're at it cut the plug off the end of that Dremel so you don't get tempted to get it within 50 meters of that blade.