I have been using my Veritas honing compound on the leather wheels. It is a blend of both chromium and aluminum oxide and the average size of scratch pattern it leaves behind is 0.5 microns or .00002 inches. Is there any problem with me using this product?
There's no problem using it, but my experience is that it cuts much more slowly than PA-70 and that there is not appreciable difference in surface finish quality.
I've use a flitz compound with great success. It orginally came with a leather strop I purchased from a knife making company. I prefer the flitz over the compound that comes with the T-7. Does a better job IMO. Just be cautious which flitz you get, I ordered what I thought was the same type of flitz, but in a larger bottle, doesn't work as well. I'd been using the stuff that comes in a grey metallic tube 50 grams size. On a side, note, I just read the other day about soaking the leather in mineral oil. Works great, and really helps out.