I've had a Wicked Edge for over 6 years, and currently own a Gen 3 pro with the upgraded clamp. While it is a nice system, like anything it has good points and bad. And contrary to popular belief, there is a learning curve with each guided sharpening setup as well.
For the good, it's very quick, and will hog off steel and re-profile a blade in no time. You can get some great edges with it, taking it all the way to the finest mirror polished edge just by adding some lapping films and sub micron strops.
A few of the bad points is that it's expensive, and you are limited to using only Wicked Edge diamonds/stones.
Here's the thing: If you are *just* looking to get a good edge on a knife, then get a 300/1200 combination diamond plate (probably 8 x 3), a stone holder, and a strop with some 1 micron diamond spray. This setup will set you back about $100-$150. Armed with those items, you will be able to sharpen ANY steel out there, and you will learn a ton about the actual sharpening process (make burr, remove burr, refine edge, etc.)
It takes time to learn how to freehand sharpen, however building your freehand skills will serve you for a long time AND actually make you a better sharpener if you decide to pick up one of the guided sharpeners later on.
Plus it's a lot more convenient to pack up a combination plate and a strop, and that will allow you to sharpen your edges regardless of where you are.