Yes it does cos there is always *some* iron exposed to the water.... but not much. Trouble is it isn't marine and continual water exposure will cause the epoxy to fail (just a tiny bit) and the iron in the leading edge will make little holes and then vortices. May be quicker though, just like sanding to bottom of the board!!
I'd go titanium powder. Hard to find though


I had a source of Ti plate in Perth if you wanted to grind it yourself so let me know if you are *that* desperate.
Try asking on US based aeronautics (esp military) forums as the leading edges of some of the aircraft they don't have

and the hypersonic mach30 thing they're flying in the desert in South Oz have similar products to prevent leading edge erosion caused just by airflow.