Hey Ben - I think there's a place for a decent, quick and cheap sharpener in most homes. I might pick one up for our kitchen knives since my wife won't sharpen them. I use a grinder and a buffer for my initial edges, but I've got stones, ceramic rods and butcher's steel around the house. My wife knows how to properly sharpen a kitchen knife on a stone, she can probably do it better than me... just wish she'd do it
Anyways, I think all of these "systems" have downsides, but you're right that it may have a place for daily use knives.