Lansky Precision Sharpening system with 5 stones (ex. course, course, Med. Fine and ex. fine) costs about $35 and works great on all our knives. Give the fine & ex. fine an extra 10 minutes and the edge is pretty close to factory sharp.
jimsmokepole

+1 for the Lansky 5 stone kit. I sharpened a knife for my roommate sunday to shave your arm sharp in about 10-15 minutes and only got down to the 4th stone did not use the 5th one. Takes a little bit to figure it out but once you do it is an awesome kit. I am usually happy with the sharpness I get out of it just going to the 4th stone, but a friend of mine was jacking around with his knife and used the 15 degree edge and went all the way to the 5th stone and it was scary sharp when he was done. Highly recommend the Lansky.

Arkansas shapening stones can make a knife
 

It's the old way. Learned from a professional cutlery man on one visit and never looked back.
Got the urge today. Resharpened, many very quickly, some fishing, hunting and personal knives today. Moved on to two butcher knives and three paring knives. I'd rather sharpen a knife than look at an expensive one.

What are ya considering the old way. To me it would mean an arkansas stone.

I use sandpaper and a leather strop.

I use the Spyderco Sharpmaker for Everything. I have been sharpening knives for 25+ years and always used the vintage crock stick style sharpeners. The sharpmaker is just an improvement of a tried and true design. It offers a 30 degree and a 40 degree sharpening angles. You can also sharpen scissors, fish hooks, etc. They run about $50, but well worth it. I also picked up the ultra fine stones and these put a mirror polish on the edge and also add that extra hair popping edge. The also make diamond coated rods for heavy reprofiling, but I never got them. The rough brown stones will work for that, just takes some extra time.

knife sharpeners are usually hard surfaces as well as soft ones with hard granules or particles used to polish and edge of the knife. You can choose from diamond sharpeners, electrics ones and many others from a hardware store easily..

an arkansas stone and a butcher steel is the best way I know how to sharpen a knife and is the cheapest. I bought a set of 3 stones mounted on cider block with a stand for 15.00 about 18 yrs ago and have yet to sharpen a knife that wasnt better than the factory edge. I learned years ago that its not the stones but how you hold the knife and the angle that puts the best edge on the knife.

I have a Spyderco Sharpmaker. I will never look at anything else, well maybe a leather strop.

wet stone and leather strap for me.

Lansky or gatco sharpeners are both easy and effective.

A good steel is a must for touching up any knife IMO

Some like the belt ones they sell Stay sharp or something I saw was selling at cabelas for 100 bucks. A friend has a commercial version it does a nice job but he has to change the belts which to me seems kinda time consuming when I can just hone and lathe or steel. Each his own though