Hello and welcome to the forum.
To polish my homemade picks I use a polishing compound and a fabric wheel on a "grinder".
To polish my wooden chisels tip I use the same compound on a piece of leather glued to a block of wood.
Dunno if there's a difference based on what's under the polishing compound. I think that all the work is done by the abrasive media in the compound.
But you got me curios: I'll try a leather wheel when I find one. Maybe it's quicker than the fabric one.
Cheers
