Comes with 5 papers, I managed to polish all frets on my guitar with just 1 piece of paper, might have been easier if I had cut them up into smaller squares, but it still worked out fine.
The fret guide wasn't amazing, since it's a thin piece of card and can move around quite easily. I used painters tape instead of the guides to protect my fretboard. The frets certainly aren't as rough as they were prior to using these papers, so I can say for certain that they do something. The frets aren't super shiny, nor did the papers remove much material. If you need to remove more material from your frets then I would suggest another product, but for a quick touch-up these are more than enough.
I'd recommend for sure, especially since you get 5 in 1 pack. Cheers!