I like the idea of a fluid with more viscosity. This could reduce a lot the time needed to get a good finish. I'll think about it.
The terra cotta and carborundum grit sanding paste could be a drill-free option. Interesting. I guess you must be careful to avoid bending the pick while "cutting" the paste.
Raimundo, I don't think a sanding blob or paste could be better than sanding sticks.
A stick helps you to refine the pick's shape, and nobody knows this better than you.
It's easy to control the stick action, not the sanding blob action: it smooths all the edges without distinction, you get a uniformly sanded shape. This is ok unless you have a thin and narrow tip that could be sanded too much.
Also a stick is quicker than my method (for now). This is just an experiment, I like to try different options. Anyway I like the idea of a "magic" paste that can smooth a pick within 2 minutes, so I'll keep on trying till I get a good result or till I got bored by unsuccessful results.
The best option ever is to roughly shape some inox picks, throw them into the sea from a lonely beach and go back after a month with a metal detector to find them well sanded and tanned
Cheers
ps: sorry for hijacking your tread Xarragon.