We're getting a bit off topic here, even the OP is no longer responding. Anyway, there are two test anyone can use to see if how they use their strop might turn into an issue. The first is to have a direct light on your set-up and see how the light changes from the open surface of your strop to the region right at the cutting edge as you use it. If you can see light bending at the cutting edge, the surface is deflecting, the edge is rounding to some extent. If one only uses the strop for a mild finish polish, not an issue, but then that would depend on how much it is deflecting.
Second test is to go from strop, back to stone and see how long it takes to grind a new flat on the cutting edge (assuming reasonably flat bevel initially coming off the stone). You can also use this to see how much one is rounding the bevel off with higher grit polishing stone by going back to a medium grit and checking the same characteristics. This test is more accurate than the lighting one as you can estimate how many degrees have been ground off the bevel and where. If you can grind a fresh edge off the strop in very short order, and observe no real unintentional convexing, whatever you're using has good properties for a strop used with compound.
Generally, most people will get perfectly good if not excellent results using a sheet of paper wrapped around a stone or similar if using compound. I can't speak to the multiple step processes that some use, but for a simple users edge that might only take a few minutes to maintain and under 20 minutes to completely re-set on a stone - stropping a few times with a single compound off the final stone. Especially for long term maintenance, this method has essentially zero rounding yet will hold onto an abrasive grit and allow it to work more uniformly. For burnishing, plain paper works very well too, and can be tried out easily and quickly - buy something more exotic if it fails to give expected results.
As for the compound, I still recommend Flexcut Gold.
Martin