Hi P111dom,
Having looked at a couple of Tormeks over the years, and also given advice at shows, I still believe that the benefits of the system are more for woodturners and carvers chisels rather than flat backed tools.
The fact that putting a flat back on the round leather wheel is likely to 'dub the back over, even if only minutely, is something I've commented on before.
While a plane may not suffer as such, and can actually introduce David's 'rulertrick' onto the blade, a chisel is more of a concern as the cutting edge sits higher than the back, even if only by a fraction, making it very dificult to pare accurately to a line, and it's the reason I don't use the leather wheel on flat backs.
A further problem arises when you go to use a stone and try to back the wire edge off as any rounding of the back needs to be honed away before the stone will work the wire edge away.
For these reasons, I've always seen the Tormek more as a dressing tool for chisels and plane irons, then moving on to a bench stone of some description to give it its honed edge, whereas I would have no worries sharpening gouges and the like on the Tormek, and using the leather wheel to do the final honing.
You can polish the bevel side of a chisel or plane on it if you wish, but i'm not really an advocate of high polish equalling sharp, I much prefer to see if it actually cuts!
Also, I usually keep the stone at one grade, (fine) as its usually only for re-introducing a grinding bevel on a chisel or plane, which it does with no problem. I will regrade to coarse if I have a bashed up tool in need of more work though.
Andy