ive done that for years...and it works,however his technique leaves the vinyl matt...so once all the scratches have been sanded away, you need to buff and polish it up to get it shiny again,so if your patient and have the correct gear, then you will turn a vg- record into a decent playable ex copy.
also it works great on vinyl,not so great on styrene,also you need to be careful of paper labels!
it also surprisingly fixes records that skip/jump!