It is some amazing stuff. I received some IRO hubs and used Scotch Brite to take the "IRO" off. How about polishing old, rusty components?....nothing better.
Even better than Scotch Brite is WD-40 and Scotch Brite as a tag team. It's amazing. Also used it on a lot of old XT components to remove decals and polish them back up. If you rub hard enough it gives it a brushed look. I used a combination of VERY fine, wet sand paper and then Scotch Brite on the cranks, rear derailleur and V brakes. Looks very good.
Just thought I'd share. Scotch Brite.