That's not the first time I have heard that suggested but I was always afraid that it would not produce a smooth enough finish however I think I am going to give that a try, I have been polishing down to 320 grit but your post has me convinced I need to try some ML parts I am working on right now to only go to the 240 stage.
This is turning into a very informative discussion, thanks to the OP for bring it it up.