I like it. I've used sandpaper to solve some interesting problems in the past as well with great success. I suspect we are only seeing the beginnings here in a trend of high-tech applications of fine grit paper.
I expect it's much easier to acquire fine sandpaper, yet my inner child yearns for laser decapping. (Or I suppose more than "decapping", depending on the depth.)
High power lasers are becoming more and more affordable. Laser ablation is definitely an option but you really want to have some proper fume extraction around that.