To tumble finish steel items you need shaped ceramic media.I gave Higgy a unit and a bunch of media a year ago. Don't know if he ever did any blades in it? You could ask him about it.The media comes in various shapes and grits.The right combination will yield a nice matte finish.As for polishing with a tumbler, that is another thing entirely.
Have fun with your rotary tumbler,but a few words of advise from one who has made one....DON'T make it from a drywall bucket.It will fail very soon. Using 12"PVC would work I think.Walnut and rouge is used to polish softer metals like brass, gold ,and silver.The barrel speed is determined by the barrel diameter and the drive wheel diameter. On a large tumbler ( I built a large 20" one when I used to do large casting batches, to clean up and polish castings)there are three "cradle" shafts that the barrel sits on. The outer two have free rolling wheels (I used skate board wheels). The center shaft turns in bearings and can be raised and lowered (to get proper friction contact) and has 1" fixed rubber wheels on it. This shaft is in turn driven by the drive motor.The drive motor has a 1" pulley and the shaft end has a pulley size calculated for the barrel speed desired.The unit I had used a 12" pulley. Even though the motor was small (1/4HP) and the drum was large and heavy,the unit still ran steadily at a low RPM,due to the high ratio.It turned at about 60RPM IIRC.
Other things that make a tumbler work better are keeping the rolling and agitation high. The insides need to be multi-sided,not just round. On a small gem tumbler,that will get by,but a large finishing unit needs to be anything from hexagonal (Very high abrasion and impact) to twenty sided (less violent agitation).Send me a PM if you need construction specifics.
Stacy