My personal belief is that in the range of 600-800 ANSI is the sweet spot for most steels and geometries if used for a variety of tasks. I usually go a bit higher than that as I find it much easier to touch up a finer edge and do so with less steel loss per - the somewhat reduced longevity made up for by other factors and still have strong performance initially and for long enough to be plenty functional - YMMV based on the abrasives at hand and the type of work being performed.
My working theory is and has been for some time, that pressure is the number one killer of edge sharpness, all other things being equal (abrasive content of the target material). So whatever means will reliably part a given material with the least force or friction will also last longer than other strategies. Since not all materials are put together the same, one edge finish will not perform the best across the range, either initially or as the edge dulls.
A chisel sharpened up to 280 grit might work well enough for rough work, but it will require more effort to use and this will increase rapidly as it dulls. The same chisel sharpened up to +2000 ANSI will require less force and last a lot longer in use, as well as making much cleaner cuts. I have found this to carry through with many tool types. My hatchets, machetes, axes, Chef knives, chisels, plane irons etc are all taken to a bright polish and stay sharp longer for it, in some cases dramatically so.
For EDU the rougher finish outlasts the finer one in most cases by a comfortable margin in my experience - the presence of high carbide content or larger carbides will amplify this effect.
In some of my testing I found that edge finish was also related not just to longevity, but also to failure mode for a given material - a rougher edge might draw cut longer than a finer edge but also require a lot more force on a pressure cut, the amount of force increasing rapidly as the edge dulls. A finer edge might fail a draw cut test with many fewer cycles at a given load, but still perform very well on a pressure cut - in some instances outperforming the rougher edge freshly sharpened.
If possible to tailor the edge to the task, is a good idea to do so.
http://www.bladeforums.com/forums/showthread.php/1368637-BCMWn690