I used this stuff for the first time on some frets that had gotten quite dull and lightly corroded wherever I don't play often. About 10 minutes of rubbing down with fret butter had them gleaming. It does actually feel like butter, hence a bit gross, but it smells great and worked really well.
Never tried that, I usually just use steel wool, but if you do it this way on an electric, make SURE to cover your pickups with something to catch the stray wool fibers that come off the pad. Don't want them shorting out your pickups.