One of things that the edge tester is good for is feeling imperfections in your edge. You use one of the funky looking corners at the end of the tool to "feel" the edge. This tool is so sensitive that you can feel a peice of dust (well almost). Also, while performing the same test, you can feel for the edge cutting into or gliding over the tester. If your edge is OK it will glide, if it's really sharp it will bite and cut, if it's super crazy sharp it will glide over the edge as if it's not even there. *Note - These statements are for polished edges.
I've used edge testers for the last 6+ years to advance my sharpening skills. My greatest leaps have been in the last 1.5 years and I credit the edge tester with helping me along the way.
Just my $.02...
--Dave--