What I have learnt from other fine craftsmen and scientists, the best edge is achieved from:
... 1. Using a jig, consistent angle
... 2. Touch-it up before it gets dull
... 3. Sharpen with Waterstones (Norton is great, Japanese is okay)
For making bamboo rods, and taking shavings of 0.001" inch with no chatter, my blades were/are initially formed with a black DMT waterstone.
Then I progress to a 800x, 4000x and finally hone off a 8000x waterstone. I could progress to diamond paste, but being able to shave with this and getting no chatter, I find this suffices.
Much research and my experience has shown waterstones out-perform arkansas or diamond stones. (diamond paper is another story).
But for knives, I do not go to this depth of effort. I use a belt sander (1"x42"), and free-form the edge. I use 3M mylar belts from 80 micron to 9 micron. If desired, I can hone with a paste on a leather belt, though, I can easily get an edge that is a mirror surface with the 9u grit.
Belts I use are similar to:
http://www.leevalley.com/wood/page.asp? ... ncy=1&SID=
It is easy and produces a fine edge that has serve my needs well (but for the best edge, then it is waterstones)