Last night I had nothing to do while driving around in my work truck waiting for a lockout call from AAA so I decided to stop by Kragens real quick to see if there was any really fine grit sandpaper, and yup, finally found some 2000 grit sand paper after failing to find any at all the Auto Zones in my area.
So I bought it and got back in my truck and started sanding my Peterson picks. I could not believe how nice my picks look now. Looks like its platnium plated or something opposed to the ugly faded black paint that was there before.
As for making the pick more effective, well I guess I feel a little difference. Seems like there a tiny bit less drag in the plug while moving the pick around.
Overall I am please with the results and glad I finally took the time to do this after maybe hundreds of past posts where everyone highly encouraged sanding your picks for better performance.