Plunges are super important! A true deal-breaker... a crappy one will stick out like a sore thumb, even on a knife that's almost perfect otherwise.
I usually use a file-guide to set my plunges by hand, then grind the bevels*. The trick is, don't go quite as far up the blade, or as deep as you think you need to when setting the plunge. This allows just a bit of wiggle-room for blending the bevel into the plunge, and hand-work to get any deep scratches out when everything is set. The worst is when you set what you think is a perfect plunge to start from, and by the time you get the bevels and taper ground, you find there's a small but ugly divot on the spine, where the ricasso meets the blade. :grumpy:
Also, Marvin Winn showed me to lap/polish the ricasso area after the plunge and bevels are set, to help keep a nice crisp transition from the flat part to the plunge. :thumbup:
*Having said that, the other fellows' tips about grinding the bevels, then cleaning up the plunge makes a lot of sense! Regardless, I find a file-guide, edge scribe and calipers essential to keeping things clean and even on both sides. I'm getting better at keeping everything centered by "calibrated eyeball" but good measuring tools are still pretty important in my shop.