i'm in the middle of my first restoration so i am by no means an expert on this subject. i pretty much lived on this wiki site when i was hand sanding the blade: Hand sanding a blade - Straight Razor Place Wiki. if you're looking to use machines for some other parts, try looking at UNDREAM22's video on youtube. he has a whole 12 part restoration process.

YouTube - Straight Razor Restoration: Start to Finish (Part 1)