I wetshave with a Merkur as well. Love it. Much less irritation with a closer shave. Just buy one of those aluminum stick things to stop bleeding when you do cut yourself. Also make sure to have a good aftershave.
Jzpiano, there are some type of Israeli blades that some people prefer to Feathers. I would recommend Googling.
These are the blades:
http://cgi.ebay.com/100-Super-Platinum-I...9QQcmdZViewItem
You can probably find them somewhere other than ebay.