To add something else to the mix I have a pair of paper sharpening wheels mounted on a grinder. One is embedded with fine grit, which does a good job of putting an edge on a blade and the other has fine rouge on it and hones to a very sharp edge. Some use wheels made from MDF to do the same thing. I have accumulated all sorts of sharpening gear over the years - grinders, belt grinders/sanders, a wet-wheel grinder, Arkansas stones, oil-stones - and have found the paper wheel system excellent for getting a fine edge quickly.
The only thing I haven't tried is Japanese water stones, they apparently work well but seem to wear quickly.