Arkansas stones will be very limited in usefulness or ineffective, if attempting to use them on more wear-resistant steels (anything from 440C and beyond, like D2, S30V, etc). Simple carbon steels like 1095 and CV, and basic stainless like 420HC, 440A can respond well to Arkansas stones. That being said, a 1000-grit Arkansas stone is basically a polisher, so even it will be limiting, if needing to do any heavier metal removal.
Same with a bare leather strop. By itself, it'll only be useful after an edge is very well-refined; basically it'll function to straighten a very thin, rolled edge; or to remove very, very fine burrs left after honing. If wanting to do more, like thinning the edge, mirror-polishing or stripping heavy burrs away, some compound appropriate to the steel and desired objective would be needed.
With either of the above, if you're trying to sharpen a blade that's long-neglected and very dull, you'll likely need something more aggressive to reshape the edge and establish a new apex. On the other hand, if the edge is ready for it, and the steel not too wear-resistant for the stone or strop being used, a polishing-grade Arkansas stone and bare strop can do some very good things for an edge.
Bottom line: What steels will you be sharpening, and what condition are the edges in currently?
David