If I weren't laying in rehab right now with a freshly installed hip, I would go round up a Winchester 94 stock I refinished for a buddy a long time ago and take a pic of it. Yes, I rubbed it out with steel wool- long before I knew better, and yes it has taken on a kind of leopardskin look (albeit pretty small marks, and not over the whole surface). He likes it the way it is and won't let me re-do it, preferring to wave it in front of me as a reminder that none of us is perfect. (I'll get him sometime, even if I have to dunk a wad of 0000 in his coffee when he's not looking!)
As I recall, I did some rubbing between coats with the 0000, plus 320x paper, too, in addition to definitely rubbing out the final coat with 0000 to de-gloss it.
I won't guarantee that it'll happen 100% of the time- but it will happen.
