Cutiger3 has summed up my situation exactly!
The Sharpmaker 204 rules the sharpening roost here. I have a dozen different ways to sharpen knives around here and the 204 gets almost all the business now. If I have heavy duty re-beveling to do, I'll take it out to the belt grinder for hogging off the steel but the finishing work comes back to the 204.
If it's a particularly persnickity and easily burned steel like 440C I'll use the Lansky.
The individualist without strategy who takes opponents lightly will inevitably become the captive of others.
I guess you have in mind GATCO EdgeMate Pro Sharpening system?
Hmmm, it is somewhat difficult to say which works better.
Both have their advantages and disadvantages one vs. another.
+ easier to set up;
+ works considerably better on long blades;
+ has awesome users manual in nicely printed brochure and on videotape;
+ can be used as conventional flat benchstone;
+ don't need any lubrication;
- has only two pre-set angles for knife sharpening;
- can waste your knife tip if you will allow it to slide from the rod when used in edge mode;
GATCO EdgeMate Pro:
+ sharpening angle is not depending on your hand, it is pre-set purely mechanically;
+ don't required constant base (like working bench or table), you can work holding the system in your hand;
+ extra coarse grit hone cuts the metal a bit faster;
+ GATCO diamond hones can be used with the same clamp;
+ better to work with convex ground blades, having more pre-set sharpening angles you can imitate convex ground edge with multi-beveled edge;
- it is a bit tricky to "catch up" the same sharpening angle from one sharpening session to another, you might slightly (but very slightly) regrind the edge each session;
- it can be tricky or even impossible to clamp up the daggers and blades with pronounced false edge.
Please don't count these pluses and minuses point-by-point, think about which of them is more important for you. The best way to choose - try to handle one and another at any blade show or store.
Maybe I missed some properties but hope it can help.