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I used the most coarse grit I had, 60, because removing the ano takes a bloody eternity. Once you've got that off the I just polished it up as normal, think I went 150→240→1000→1500→Mother's Mag.
Really half arsed it because it won't be going on a fancy bike or anything, so no one's going to get a close look at it. You can see for example that I didn't bother to do the tabs for the crank bolts as it was an awkward area and I couldn't be bothered. But if you look up Jeff Jones XTR cranks people get them to a mirror finish - probably just a couple more hours of work (same process, just a different crankset).
Preserving it I don't know! I was googling the Jeff Jones XTR cranks for ages trying to find some example of them after being in use for a year but nothing came up. Decided I didn't really care that much and could always polish them again (the Mother's Mag and fine grit sandpaper only takes a few mins). I think you can top coat them but I don't have any around so not going to bother.
Also did a seatpost and might do a stem as well.
Edit: this guy did a great job with power tools, I can't read Spanish though. Here's some very shiny Shimano road cranks
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Did you just use fine grit sandpaper?
How do you preserve the shiny surface? (not talking about the notebook... (-:)