I used everything from pull sharperners over stones to polishing the hand forged, multilayer tanto I made for my dad's birthday using sand paper and a stone-water paste.
The pull sharpener works wonders if the knife has to be sharpened quickly. If you do it long enough, the edge is ruined (I talk actually years of daily use of the knife here, and even then a decent knife will be rather sharp). Stones are good to get nice edges, I prefer to run newly made, or abused, blades over a belt grinder first (I'm a lazy and impatient person sometimes).
And the full blown 160 - 3000 grid followed by stone-water paste polishing is something I'll only ever do for special occassions. Everything after 1000 grid, stone or paper, is for optics only. And even bread crust will cause scratches at that level.
Is all of that necessary? Course not, I do it because it is fun (sometimes), and well cutting knifes are a pleasure to work with.
Do those knifes improve the quality of the meals we cook? No, they just make the preparation easier to an extent. And in tje end the meal counts, not the tools you used to cook it.