Seems like a pretty old thread, but I'll reply in case anyone in the future asks about the Honemaster. I bought my first one in 1974 with the $5.00 my father gave me for my 16th birthday. Today I received my second that I won this week on ebay for $60 and was happy to pay it. I've just about worn out the first Honemaster; the parts of the clamp that contacts the hone has so much wear that it has been razor sharp for years. I've been sharpening knives since I was 11 y.o. and in that time I've not come upon a better sharpening aid. I've examined several over the years and do not care for systems such as the Lansky and Smith's Precision; I'm sure they are both very good systens, but not for me. You can't use the Lansky or Smith's with the 11.5x2.5 inch Smith's diamond hone I recently bought. In fact, I think both will only use their proprietary tiny hones. Besides, what a royal pain it appers to be to use the Lansky/Smith's systems. With the Honemaster you simply clamp it to the blade and sharpen as you would freehand. Also, there are rubber blade protectors lining the Honemaster so it won't mar the blades like the other systems. I have a dedicated bench grinder with a sharpening wheel, but only use that on my kitchen knives. I won't use it for sharpening any of my carry or hunting knives.
I have sharpened blades that were shorter than the Honemaster is long and those that were so long I had to take a second bite with the tool to get the whole blade sharpened. The advantage of the Honemaster over freehand is that every stroke you take on the stone is at exactly the same angle which not only speeds sharpening, but leaves a beautiful factory-appearing edge and the edge is on the same plane. Conversely, every stroke taken freehand will be on a slightly different angle and while I have no evidence to support it, I'll wager won't hold as good an edge as a blade sharpened with the Honemaster. Can someone sharpening a blade freehand get it as sharp as using a Honemaster? Maybe, but I'll never know because I use the Honemaster. I was willing to pay $75 for the Honemaster on ebay and while I'm glad I didn't have to I would not have been troubled by doing so. I would not take $150 for my new Honemaster and maybe not for my old one.
If I think of a downside to the Honemaster it would be that its use will cause premature hone wear simply because the Honemaster contacts the hone on every stroke. Logic dictates that the stones will wear out in half the time compared to hones used freehand. That said, I have three (course, medium, extra-fine) 2x6 inch diamond hones that I've used for more than 20 years and they are still going strong.
I would reccomend the Buck Honemaster to anyone who is serious about getting a knife to the absolute sharpest it can be.