Ha! I haven't been on this forum for a good few months, but surprise surprize, the first post i find is on sharpening/grinding. ;-))
I've used a Tormek, ProEdge and a simple grinder with a decent Norton 3X wheel, here are my thoughts.
Tormek - produces great edges but is quite slow, especially if you're an occasional woodworker and need to top up the water trough every time you use it, or are as indiciplined as I was and leave the stone sitting in the water for weeks only to find rust particles on the stone every time you go to use it. Ideally you need a "wet area" in the workshop to use the Tormek as it's inevitible that water will find it's way out of the trough and onto your bench at some point. I sold the Tormek on to invest in the ProEdge.
Proedge - Great bit of kit, grinds quickly provided that you have a sharp/fresh belt installed. I do have a small concern however that the belt very slightly rounds the edge over very slightly, thus resulting in an edge that isn't optimally sharp (only applies to turning tools which are used straight from the grinder - hand tools would always be honed afterwards anyway). I've moved away from using the ProEdge due to this, and the fact that I prefer a hollow grind for my hand tools - that's purely a personal preference. I should really think about selling it on to release some funds.
Grinder (cheap Machine Mart jobby) and Norton 3X wheel (cost more than the grinder) - This is a setup that I'm totally happy with, I have a toolrest set to grind a 22-23degree bevel that I can easily hand hone in seconds. The Norton 3X wheel really is the key here, it grinds so cool that there is minimal risk of burning the edge. I have a fine pink wheel on the other side for my turning tools, and use a Oneway Wolverine jig on it to effortlessly sharpen my turning tools.
Here's a video I put together a while ago to show my approach, it really is quick and easy!
https://www.youtube.com/watch?v=wFRJIAOGSJI&list=UUu8qQzH5LXPf6noBLjcLlJw
Cheers
Aled