The real question is are you sanding solid wood or a figured veneer. Some veneers can be quite literally paper thin. Sand through that and it's game over. Otherwise sanding will have some, but usually little effect on the figure.
Personally I'm a big fan of chemical stripper (methylene chloride gel is my fave.) Yes it is pretty caustic stuff, but it is also quick, easy and highly effective. Compared to the amount of sand paper or abrasive pads you will destroy removing the finish mechanically strippers are a very reasonable alternative.