I have had the Gen III Pro for a few months and have nothing but good things to say about it.
I had the Gen II with the upgraded arms, and ended up trading that away on a gun/several knife deal to a friend since I wanted to try a few other sharpeners like the Ken Onion Worksharp w/Blade Grinding attachment and even the paper wheels. While the other 2 systems had their good points, and maybe saved a bit of time going through the sharpening process, the biggest thing I missed was the repeatable precision and ease of re-sharpening. With the Wicked Edge, the FIRST time you sharpen something it takes some time; re-sharpening those same knives only takes about a minute.
For me personally, I felt the cost of the Gen III Pro more than paid off in terms of convenience. While not super slow, getting the blade clamped and the individual arms set on the Gen II took a bit of time. With the Gen III, I can drop the knife in and set & double check the angle with an angle cube in about 30 seconds. It's also extremely convenient to have everything you need in the little storage compartment built into the base. I have 100-1500 grit diamonds, and 9 (back of the 1500 grit is a glass platen, I use the 9's on these) 6/3, and 1/0.5 micron Diamond lapping film on glass platens. I have the strops in a separate storage area. I also splurged on some extra parts like the wide angle jaws (for 1/4" blades), low-angle adapter, a few sets of balsa and leather strops and some diamond compounds.
The cost is an investment for sure, but I have learned that the cost of really nice tools pays you back in both time savings and reliability over the years.
You really do get what you pay for!:thumbup: