Speed wise, the WSKO is far faster than hand sharpening, but it's not super fast either, unless you run it full speed. Running full speed you can do damage pretty fast. That's why I mostly stick to the middle speed or a bit faster. My speed honestly isn't very good. But I produce very good results (if I do say so myself!) and I don't wear out my arms or any stones in the process.
List of belts that come with the WSKO:
P120 - Roughly 100 grit. Pretty abrasive, but I like something more coarse for REALLY beaten up blades. For regular "dull" the P120 rocks.
X65 - Norton Norax, 65 micron (that's what the X means: Micron size). About 220 grit.
X22 - Also Norton Norax. 400 to 450 grit. A great finisher for working blades, or typical kitchen cutlery.
X4 - Norax. 1200 - 1500 grit. Makes quite polished edges that pop hairs and clean slice phonebook paper. Will mirror polish some steels. Most soft-ish blades won't suppor this level of polish for long though.
Purple "6000" - Don't know the grit size on this, but it will mirror polish most steels and produce crazy hair popping edges. Again, most steels won't hold an edge like this, but it's fun to play with and makes pretty edges.
The WSKO is a fantastic system, but there are NO foolproof sharpening systems on the market I'm aware of. You have to do your part. When you do, the WSKO will reward you with great edges in a fraction of the time compared to hand sharpening. I've got a video of me using the WSKO freehand, but it's REALLY long at around 22 minutes, so that tells you how long it takes to do a really good job on a dull blade while trying to describe the process at the same time.
Brian.