Years ago Colgate was the only toothpaste gritty enough to be a decent bore cleaner. I'm not sure about now. I never tried to smooth an action with it. I would use the finest valve grinding compound the parts house sold. You need to take the gun apart, liberally apply the compound to metal parts that rub and work the action alot (100's of times). Once your done, take the gun apart, clean off the compound, lube and reassemble.
I personally would recommend shooting the gun enough to make high spots shine, take the gun apart, stone the high spots, lube, reassemble and shoot some more. This method is a lot more enjoyable because it requires you to shoot the gun more and a lot less disassembley/reassembly.