The question should probably be "is my knife as sharp as I can get it?"
I'll modify that a bit more, and ask, "as sharp as I can get it
today?" As mentioned previously, there's seemingly no limit, except for our own inconsistencies in technique. Basically, the better you can control your angle, and the better you regulate pressure, the better your results will be. Keep the angle consistent, and gradually lighten pressure as the edge gets more refined. Combine that with a logical and tightly-sequenced grit chain, and you'll start to find out just how far 'sharp' can go.
Slicing fine paper, like newsprint, phonebook pages, etc., is the best 'real world' indicator of a good edge, I think. I check all my edges that way, and if they consistently slice through the paper, along the full length of the cutting edge (heel to tip), without slipping or snagging, I then find those edges to be excellent for virtually all tasks. Shaving edges are fun, but when they're that fine, they won't necessarily be all that durable. And wire edges will often shave, but will fail quickly under tougher cutting chores.