Hard to say, there's a big difference between a bonded abrasive and one that can move around on a strop. My best estimation is that the loose grit on a strop is going to produce scratch pattens closer to 1/2 what they're rated for. 700 grit loose compound will be close to the scratch pattern from a 1400 grit paper. Even then it doesn't tell the whole story as it won't be creating a burr and it isn't really grinding anymore even if it does remove some metal. All I can say for sure is that my black emery compound is rated about 600 grit and my 600 grit SiC does a much better job. Whip up a cheap homemade strop and try it out. It probably won't work well for the 2000 grit wet/dry, but it should do a good job at 1200 and certainly at 800. There's also the shape of the abrasive to consider. I enjoy tinkering, there's no way I wouldn't try it out.
HH
Øystein Lytskjold;9633614 said:
Well, since i love tinkering as well, im not giving up just yet

I think it should work fairly well, as my dad reports that all metal railings at the factory has gotten a mirror finish.
Ask your dad what they use for the backing material for the SiC dust, when polishing those silicon wafers (and the metal railings at the factory). As HH points out, the relative hardness/softness of the backing makes a big difference in the effective grit. A larger particle on a soft backing won't 'dig' as deep into the steel, resulting in a finer scratch pattern and better polish (within reason, of course).
I've been playing around with different backing materials for Simichrome polish. I've noticed a big difference in results, comparing a balsa backing to leather. The great thing is, using the balsa results in more efficient (aggressive) removal of metal, which takes the edge up another notch in sharpness. Then, using the same compound on leather will polish it up even more, but less aggressively.
If I'm not mistaken, SiC is also known for 'fracturing' into smaller, but still very sharp, crystals, with use. Many here are familiar with how wet/dry sandpaper (SiC) will effectively get 'finer' with use. So, even though the particles might start out at 8 micron, I'm betting it'll get smaller with some use. I've noticed, with the finer grits of wet/dry sandpaper, they'll start to produce a higher polish as the paper gets 'older'. My 1000/2000 grit strips I've been using, have started to look pretty worn out, but I've been reluctant to toss 'em out for this reason.