No comparison at all. A typical rifle receiver is an alloyed (usually medium carbon steel) quenched and tempered for maximum toughness to about 45 HRc at most. A monosteel, fully hardened Mora blade is over 57 HRc. That makes a big difference in how much more work it takes to polish the surface. On the other hand, a laminated Mora is far easier to polish because the outer layers are very soft low carbon steel.

By the way, a buffing wheel w/ paste works a lot better than steel wool for the final polish. You could use a buffing wheel on your Dremel though a real buffing wheel would produce better results.