FWIW... Here's what they do at one of the "premier" knife production companies located somewhere in Idaho. Mind, they are into mass production, so, speed is of the essence. The knives are sharpened edge up on the wheel of the belt grinder using what I call micro pressure. Basically it's just the weight of the knife's edge gently resting against the belt/wheel as it turns. After applying the primary bevel and attaining a nice burr the knives move to a Kratex wheel to start the edge "polishing" process. (This step is done edge down.) This removes the scratches from the grinding belt and creates a mild convex edge. Finally, the blades are polished on a hard felt wheel until they will essentially shave your face. (Also done edge down.)I wish I had a photo of the guys arms that work in the grinding room.... It's a rare occasion that they have any stubble on their arms let alone any lengths of arm hair. Every knife is inspected for it's ability to shave hair. There was one guy that came back from a 2 week vacation of sorts and I almost didn't recognize him with all of his arm hair

They use S30V for most of their blades which is extremely abraision resistant, so, if you're using anything less resistant to abraision you could probably get away with going from a very fine belt straight to the polishing wheel.
Like Nick said above. If you use a method that can easily be duplicated by your customers it will save you a lot of headaches down the road. I can't tell you how many knives and how much semi-negative publicity this company has taken due to this fact. A very common theme of concern was what angle the edge was at so that they could use a sharpening system to replicate the factory edge. Well, each guy tried for a certain angle but they were applied by hand and by the time the edges were on it was convex. Sharpening systems put on flat bevels. Couple that with a very abraision resistant steel and you can probably guess how frustrated some folks get trying to "duplicate" the factory edge.. The shop would sharpen their knives for free but most customers didn't live in town so they would have to mail in their daily user and be without it for a week or so. Yet another source of frustration. See where I'm going?
***Here's where I have to say how dangerous sharpening edge-up on a grinding belt is... It's "f-ing" dangerous. Accidents happen! One of the guys I worked with who had been doing this for about 10 years had a blade ripped from his hands. It made a nice 1/2" deep gouge in the wheel before it let loose, bounced around, cut two of his fingers deeply enough that he spent several hours at the emergency room determining if there was tendon damage and getting sewn back up. I was forced, and I mean forced, to "learn to sharpen" this way, otherwise I would have learned to do it a different way.***