Thanks kippy for the informed response.
If I sanded all the way around, are you saying that I couldn't get it to look like this....?
What material is the very top layer made of? The one that the welted leather is stitched to?
I'm very tempted to do this, but I wanna be informed first...
The first shoe you posted in your initial post has a split welt. It has the appearance of standing up around the edge of the shoe. In the link above, the shoe looks like a flat welt or maybe a storm welt - it is much less prominent. I think doing this with a shoe with a regular "flat welt" would be doable with taking away from the appearance.
Having said that, there are other members of this forum with better knowledge of welts that can pipe in.