On Mon, 28 Apr 2014 09:15:46 -0700 (PDT), trader_4
wrote:

For removing peeling paint, by far the best thing I've ever seen
is a Wagner Paint Eater. It's like a circular sander or grinder, but
the head is a tough composite material, kind of like a super tough
version of one of the scrubber pads for pots. It quickly takes the
loose paint off and unlike a sander, doesn't clog up, so you can just
keep going.

I had a bad experience with this tool. It broke after ~ the third
use. Pads do collect paint, but I was able to wash them with a water
hose to get them a little cleaner. They seem to wear fast, too. The
pads cost $15 each.

Reviews:
http://www.amazon.com/Wagner-513040-0513040-PaintEater/product-reviews/B000FFYLJQ/ref=dpx_acr_txt?showViewpoints=1

An orbital sander worked best for me to feather the paint out where it
peeled.

YMMV