I actually bought the kit you are talking about. Now I have never used any lansky kit. I have a spyderco sharpmaker, the older version. I can get most of my knives shaving sharp with the sharpmaker so that is my point of reference. I have used the smith sharpeneing kit on two knives. My bear balisong, and my bm 710. The bm was alot harder steel. The course stones in the set were very course. You dont need anything that course on any softer steel blades. It literally reprofiled the edge of the bear like it was a course file on soft wood. I was amazed, and on the bm it also took off alot of metal with each stroke. The medium stones were still pretty course, and the arkansas finishing stones that it comes with, did not seem to put as fine of an edge on the blades as the fine sticks on the sharpmaker. I expected the sharpening kit to be a pos, and the blade to be decent, I was more impressed with the sharpening kit, than I was with the knife. But I should point out that I am very new to sharpening, and am by no means even competent. So dont take my opinions to seriously. I really dont know much about what I am talking about.
Kyle