Gotta agree with RokJok's review 110%. I personally noticed all of his bullet points conclusions.
I got one for Christmas. I had to smile big and say 'WOW!' to prevent insult, but I could see it was mostly a gimmic even before opening the box.
The only use I personally have for it is that I often offer to 'clean up' friend's and hunting partner's (who are more knife illiterate than me) knifes. The edge is usually so bad that this device comes in handy....I can completely 'rebuild' the grind on those abused and poorly sharpened knifes with a fair amount of accuracy with this product. Then, I use other hand-honing methods to complete the edge before returning.
My comment to experienced knifers: This device has presets for 17, 20, and 25 degrees. If you want to use this product, then you will have to re-grind the edge to one of the preset angles which will take a little while to accomplish since almost no knife will come with EXACTLY the same fixed angles as the presets on your individual unit.
Comment #2: Most quality knives need nothing more than a little honing from time to time. This product seems to be more for serious edge repair. (and the rookie as RokJok noted).
Comment #3: my Christmas gift had a sticker with sales rep info. I contacted him and told him most of the above opionions and inquired about purchasing much higher grit rods for honing. Reply: $40 for some higher grits rods. Fergitaboutit.