I've abstained from stropping lately because it only results in rounded edges.
How do you guys do it?!
The term "stropping" can mean an awful lot of possible methods.
If you're talking about using a piece of leather loaded up with abrasives, then there's a real good sticky at the top of the page. The leather is conformable and pretty much uniform, allows the abrasive to sink into the surface rather than sink into the steel and produce a more uniform edge when viewed from the side. Unless great care is taken to prevent it, the pressure will spike along the apex as the leather returns to its previous volume after the edge passes over.
Even with light pressure this is liable to happen unless the surface area of the blade is large, spreading the pressure out more. A lighter touch is helpful too, but then it will require more passes across the surface to see an effect. Even if the edge isn't sinking into the leather, there is a tendency over time for the edge to round over with repeated stropping due to human error. Convex, Scandi, and straight edge blades seem to do best over time, these edges have a lot of surface contact - reduces spot pressure and increases feel for where the cutting edge is relative to the leather. On a V bevel you can roll the shoulder into the leather and use this to absorb some of the pressure, align the cutting bevel a little better to the line the leather takes as it expands - more pressure on the shoulder, less on the apex.
Even then, many people use a coarse and fine strop, this gives more bite to the leather with the coarse grit for refreshing the edge, then refine it a bit with the smaller abrasive. When using a leather strop, you should do as much possible work on your fixed abrasive (hard stones etc) as you can to reduce the chances of it going wrong.
Either way, the edge will become more uniform and polished as all the abrasives are hitting the edge with much more uniform pressure. Even with a relatively coarse grit the edge will feel smoother when cutting due to the greater uniformity along its profile and a smoothing of the grind troughs as they intersect with the apex.
To reduce the likelihood of rounding the edge, use a harder backing. Either compress the leather when its damp (there are instructions in the stropping sticky authored by Stitchawl), switch to MDF or balsa, wrap a sheet of paper around a combination stone, or check out the Washboard link in my signature - I made specifically to counteract both the smoothing and rounding effect from most stropping operations, but retain the ease of use and burr free removal of steel.
This at 1000x (1600 with digital boost), there is no rounding of the cutting edge, the edge stays three finger sticky - very catchy yet capable of treetopping hair or even whittling a hair:
after stropping with compound on two sheets of paper
And after stropping on one sheet of plain paper
If you don't care to invest in a Washboard, at least try using a sheet of paper wrapped around your stone - apply compound to that. The coarse side works better. In general, stropping is a great way to tune-up an edge, finish an edge off, maintain an edge with specific cutting qualities all with the least possible amount of steel removed - just have to figure out what combination of grit, surface, and backing to use, and how much pressure you can get away with.