Received a Smith's Diamond Edge 2000 as a gift - any good outside the kitchen?

[Inazone]

Knowing that I collect knives, my well-meaning brother bought me a Smith's Diamond Edge 2000 sharpener for Christmas. Since most of my user knives are just various cheapies and not used for anything very demanding, I usually just sharpen them with a pocket sharpener of one brand or another, but from what I've read about the Diamond Edge 2000, it seems more suited to sharpening kitchen cutlery than the types of knives I (and most people on BFC) use and collect, ala Kershaw, SOG, Schrade, etc.

I'm all for experimenting, but if this sharpener isn't suitable for the typical drop point, clip point and tanto types of blades, I feel like I'd be better off leaving it "BNIB" and selling or donating it to someone who will use it. Am I mistaken?