I’ve been using this
For some time now, have never had an issue with it, 3-4 strokes and my knives do what I need them to do, and then some.
My son just got this one for Mr2U - it seems to be working ok, and it was cheap (meaning Kid2U could afford it). But our knives are not pro or anything by any means. I think we got them from Target. I don’t do much cooking anymore anyway. 
Nobody has of yet talked about Billy Mays fine new product?!?
Luddites.
Those little carbide numbers will ruin your blade quick. Go with a hone or go home.
I picked up one of those about a month ago. Works pretty well. Beter than many of the other devices on the market.
For real sharpening I always use my Tormek wet wheel sharpening system. Actually bought it to sharpen my woodworking tools such as lathe tools and chisels, but it works exceptionally well on kitchen knives too.
I had the same sharpener, as it came in a set with two Henckels knives. I need a new one, since my FIL liked it so much he took it back to China with him. I have been meaning to get a replacement, but haven’t wanted to brave the malls to go get one. I have a friend who works in a tool & die shop and he sharpens my good kitchen knives once a year.
With all due respect to the rolleyes, I think I’ll stick with Alton Brown’s knife sharpening tutorial.
Using a steel is quite another matter.
Those do not accomplish the same thing as sharpening a knife. Those are probably more accurately thought of as “straightening” steels rather than “sharpening” steels.
Once a year, I just take my knife to a professional knife sharpener (here in Chicago, there’s a great place called Northwestern Cutlery that does it). People whose opinions on the matter I respect discourage sharpening your own knives with one of those diamond sharpening devices where you rub the blade back and forth, especially if you have fine knives. If it’s a cheap knife, go for it, but an expensive Wusthof or Henckels? I absolutely wouldn’t use those devices on them.
Between sharpenings, I keep my blade in shape using one of the sharpening steels linked to above.
I became obsessed with having sharp knives a few years ago. Steels basically restore a bent edge but don’t really sharpen effectively. I’ve used stones and other systems including the Lansky.
I have travelled the four corners of this world. I have fought many a good man and lain with many a good woman, and if there is one thing I’ve learned, it’s this:
If you want REALLY sharp instruments, talk to a woodworker. These guys need their chisels and such to make clean perfect cuts in hard woods and they need to resharpen often.
There are two systems worth using. I’ll save the best for last:
“Scary Sharp” is a specific name for a specific system and it works incredibly well. It uses a piece of plate glass and sandpaper of progressively finer grits. It has huge advantages over other systems. For example, with stones you are bound to produce declivities in your sharpening which quickly hinder the stone’s ability to sharpen. Scary Sharp is fast, and in five minutes I can take a kitchen knife from 320 grit all the way up to 2000 where it shines like a mirror and can cut you so that you don’t even feel it.
When I was using this system I sharpened a friends knife. When I was done, he wanted to test it by seeing if it would shave his arm. He placed the blade on his arm in preparation, and it simply sunk in about a quarter of an inch.
The best thing about this system is you can google how to do it. It’s cheap, fast, easy and produces a superior result.
In terms of ease, efficiency, and a truly frighteningly sharp blade nothing compares to this:
Read more here:
http://users.ameritech.net/knives/paper.htm
You’ll need to buy a dedicated bench grinder, but it’s well worth it just to have this. You can pull a quick burr with the emery wheel, and then with the paper wheel and the jeweler’s rouge you can buff a blade to almost infinite sharpness.
With this latter system you can get things much much sharper than a razor blade. In fact, it’s kind of an issue. I was so impressed with my ability to make incredibly sharp knives that I oversharpened them. A super sharp edge is very thin and very fragile.
Nowadays I use a guide and keep an 11 degree angle on cutting blades and about a 20 on chopping blades. That’s still pretty extreme and sharp enough to make you pee your pants.
An acute angle, scary sharp, edge is good for some things like wood carving, but for a kitchen knife it might not be the optimum grind.
You can put whatever angle on it you want. I’ve done scary sharp at 11 degrees. All you need is some thick glass, adhesive sandpaper from 320 up to whatever, say 1200, and something to use as a guide and you can put whatever type of edge you want on whatever you want.
The wheel’s easy though.
I’ve done tons of blades with both systems. They both work great