I used to use emery cloth to polish crankshafts when rebuilding car engines. I'm sure it did little more than cleaned the crank but hey...when that's all the budget allowed, that's all the budget allowed. ha!

Here's what wet and dry is...emery paper. Course you call it emery paper instead of wet dry and they'll just look at you like you're crazy...unless they be old.

"Manufacturers make emery paper by gluing abrasive mineral particles to sheets of paper using special adhesive. Emery, a type of naturally-occurring mineral, may also be known as iron spinel or hercynite. While the most basic forms of this product feature a paper backing, emery cloths are much more common, and can be used in the same way as traditional paper versions. Manufacturers can also create emery board by applying this mineral to a wooden or cardboard backing.
Emery paper is sold in sheets of varying sizes, similar to sandpaper. Some manufacturers also attach this product to discs or sanding bits so they can be used with sanding tools. Emery cloth is typically sold in rolls, similar to bolts of fabric, which vary in size to meet the needs of different users.
Compared to sandpaper, emery paper offers greater precision and predictability. This is due to the consistent grain size of emery particles, as well as to their stable structure. These qualities make this paper the best option for high-end metal work, and also result in a more even finish or polish."

I use it to work the finish down on my turnings. I've found that if I put a heavy coating of finish on the wood and let it penetrate the grain I can wet sand it down...even into the wood a bit to get a really good base line to start the final finishing procedure. This is especially useful on the insides of jugs and stuff...the piece can be turned slower than with dry and it doesn't tend to grab your hand and spin it 360 degree's as it rips it off the end of your arm!

I work the finish like I used to work a lacquer paint job on a car...put some on...wet sand off...put some on...wet sand some off...progressively using finer and finer grits until I end up wet sanding the final finish with 1200 grit. Then I literally get some car buffing compound and buff it...then I use a car polishing compound and put a final polish on it.

Looks like I poured glass over the chit. Have to be careful when you pick it up or it will slip right out of your hands.

Why? Because I can.