David Weaver
Yes - It needs something to hold it to a strop, though (like mineral oil or something similar). I use 0.5 that hand american used to sell (no longer), and it can't be ordered without finding out the grade (the pigment is often 3 or 5 micron if it's ungraded).

Not something I use much of on tools, but the 0.5 and 0.3 will work well without creating a foil.

Strangely enough, the formax compound sold by LV and others gets a lot of grief for having aluminum oxide particles in it, but those particles are the only things making it practical to use for woodworking vs. just as an add on for a strop (that is, if someone is using it as a follow-up to a fine but not-that-fine stone to finish honing rather than just minor refinement, the al-ox is appreciated).

A typical use for something like that powder is to lap a razor 50-100 times after the finish stone and then strop after. It's a little dainty and the sharpness is transient, but it's genuine sharpness. It can be enough on a razor to lift a hair while shaving and then cut not only the hair off, but catch the skin levered up by the hair and shave it off, too (that's simply razorburn).