I've used them sparingly with the first few coats of French Polish finish to fill up the pores on some types of wood,,usually American Walnut.
It'll work into the pores with the shellac finish as it's built up and fill them quite quickly. Blends nicely, but will raise $#*! with any checkering tools (or carving) that's planned for afterwards.
I'd guess either would make a good polishing compound on a leather belt or wheel or even a leather covered hand polishing stick. Mixed in a wax or grease type base for application to the leather,,it'd polish & burnish quite well I'd think. Probably do a knockout job on brass giving it a nice burnished look w/o the slicky high polished buffed appearance.