Yet another satisfied customer chiming in -- these work. I can do a bit better with belts admittedly but I've been using belts for years. I've done less than twenty knives on the wheels so far and I'm quite pleased with the results that I'm getting.
A few observations:
I had trouble on the first few knives at 1 o'clock, edge facing me. I tried going further up on the wheels, then eventually tilted the knife back beyond horizontal back at 1 o'clock. That did the trick. The videos don't really show this.
A strong light source above/behind is extremely helpful to see what the burr is doing. Richard said this repeatedly but I just didn't listen.

I still verify the burr's position and orientation with my thumbnail between passes, just to be safe.
Since I usually have a lot of it around and it's worked extremely well for me in the past on strops and leather belts, I've been using Lee Valley's green compound instead of the included white compound. It works fine in this application. Whether it's better than the white compound or not I really couldn't say.
Different alloys react in different ways. Common knowledge, I know, but it's far more pronounced here than on the belts. Softer stuff (Glock field knife, CS Shovel, carbon chef's knife, etc.) tended to produce burrs that flopped around a lot and had to be "chased" back and forth a number of times, even with light pressure. S30V and S90V produced extremely tiny and inflexible burrs that couldn't really be seen, but could be detected with a thumbnail. For those I had to apply significantly more pressure to get anything accomplished at all and the burrs tended to break off rather than grind off. The added pressure may or may not be required on the grit wheel; I never used it on any of these steels as I try not to let the edges on such things get that bad.
Richard's comments about heat (or lack thereof) are spot on. It was far less of a problem here than it would've been with belts IMO. No tips burning off either. (I've always been bad about that on belts.)
While excellent for folders, larger knives are trickier. I'd expect a sword or a khukuri to be an absolute pain in the ass. The second wheel forces you to angle in on a corner and if your grinder is mounted near a wall as most are, you're limited in that direction as well.
Richard's title for this thread is most appropriate. Even though I can do better with the belts, it's not really worth my time in most cases. Refreshing a folder consists of one or two passes in either direction -- ten seconds or so if I'm taking my time. I can bring a bunch of knives out to the garage, fire up the buffer, and have them all done in a few minutes if I haven't let the edges go too far. The grit wheel seems largely unnecessary; in fact, if you were sharpening only low alloy stuff that's not crazy hard, you could probably get by with just the buffing wheel and a file, although it would take a little longer. Somewhat along the same lines, this doesn't instantly render all of one's other sharpening products obsolete. One could always touch up via stropping or ceramics or whatever through the week and give it a quick kiss on the buffing wheel when it needs it, keeping steel removal to a minimum.
Good product. :thumbup: Well worth the money. It was surprisingly easy to get the hang of. I'm a believer.