But seriously, the general answer is "no". SOME people might be able to "move paint" with a rotary well enough to make it a little better, but don't count on it.
Just keep the area well protected and it won't cause any rust problems. I have a few spots on the XJS that have checked/cracked lacquer; they've been like that for years and while I don't like how it looks, it hasn't caused any problems.
Most of it (90% or so) is the original, 1985 paint, including the spots that have cracked. I can't tell you just how long they've been (cracked) that way, but it's been quite a few years.