I NEVER use a Dremel to clean, or buff a knife. I started with one too but an old knife repairman told me to get a Foredom, a flex shaft tool that had great torque at low PRMs. The quality of my work improved 200% immediately, just by stopping the use of the Dremel.
The problem with the Dremel is it is an underpowered tool that will not work at low RPM; it is all RPM and no torque. It is only effective at higher PRM so that it will keep spinning; great for cutting with a burr or a cutoff wheel, but bad for polishing. The RPMS make the abrasive cut too deeply and leave uneven swirl marks all over whatever you are trying to buff.
My Dremel now only operates an abrasive cutting wheel for cutting pin or tube stock.
When polishing, I would rather use abrasive by hand than use any rotary tool, because the small diameter of the tools generally leave marks on whatever you are working on. If I have absolutely no option but to use a rotary tool of some sort, I will use my Foredom. The low RPMs allow me to control the cut of the abrasive. It is kind of like driving a car; at 20 MPH you have good control of most stock vehicle under normal conditions, but at 150 MPH you have little to no control over the vehicle.
IMHO, using Dremel to polish is like driving a Prius at 150 MPH: It should never happen and you will probably regret it.
Now that you know my shy and retiring opinion of the Dremel tool……… (timid person that I am)…..
This is a great link to one of many threads where this topic has been discussed:
http://www.allaboutpocketknives.com/kni ... ilit=clean