JR, that other Jim (Q), and others that mentioned the Norton 3X (three times [as long lasting]) are right on target.  The stuff just doesn't quit.  At one time Home Depot carried it, but I didn't see it there last trip north.  Woodcraft and Rockler carry it I believe, and after you try it, if you like it, it turns out cheaper in boxes of ten sheets. 

And that bit about lathe speed and pressure put on the paper while sanding that Gil and others mentioned is a lesson we all have had to learn.  Sanding is such a boring exercise that the sooner we get through it, the better.  Well, maybe except for the last couple of grits when things really start to shine...

Jim

Orange Box (Home Depot) had it in Phoenix yesterday.

JimQ

I think Home Depot also carries a selection of the nylon abrasive pads.    If not, I know WoodCraft does, with different colors matching different steel wool size equivalents.

JimQ

Success at last!

I resanded the saucer using the black paper and did not have the problems with the black specks in the wood.  I used low speed and a lot less pressure.  I was able to purchase some 800, 1000, and 1500 paper.  I could not find the Norton paper at either of two Home Depots in the area.

I'm not sure how much the 1500 paper really helps, but it did seem to help make the surface scratch free.  I finished this piece with HUT polish, and it has a nice shine and feel to it.  I'm convinced that my problem with the black residue was caused by high speed and too much pressure.

I still have a lot to learn about turning, but I'm confident that if I take it one step at a time, I'll get there eventually.  I need to improve my tool sharpening skills along the way.

Thanks for all of the help and suggestions.