Roy,
I have always thought that it is much more likely that the action of hardened tool steel on a stone is more likely to wear a hollow than the passage of a wheel?
"The wheel wears a hollow" has surely got to be one of the classic old wives tales of woodworking. This was perpetuated by the professional who had learned to sharpen freehand to intimidate the beginner or apprentice. I personally have grave doubts about many of the results achieved by "professionals", but that is another very long story.
Off stone guides are generally cumbersome in my opinion, and the £5-xx Eclipse clone from APTC does a fine job in this workshop. I apply finger pressure to the blade, near the edge, and keep the weight off the guide itself.
This certainly works exceedingly well on waterstones which must be the softest sharpening kit available. Diamond stones must be the hardest and I can assure you that there is absolutely nothing to worry about if you wish to use a guide on one of these.
best wishes,
David Charlesworth