Well, I know you asked about the Sharpmaker, but I'll tell you about the EdgePro Apex
The Sharpmaker 204 is the tri-angle that everyone talks about. It does not have a guide. The priciple of operation is to hold the knife perpendicular to the surface the sharpmaker is resting on and slide the blade down the stone. I had one, used it many times, and like many others found it adequate, but unable to really do a nice job.
I just recently purchased an EdgePro Apex from Ben. It's by far the best sharpening system I've used. There is no jig to clamp the knife in. Rather it sits on a bed and you pass the stone over the edge. This allows you to transfer all the force you apply to the stone directly to the blade while at the same time supporting it.
Using the Apex, I can put a super sharp, perfectly even edge on any knife I own (except the convex grinds
). It also doesn't do serrations as well as the Spyderco. It'll cost you a lot more, but if you have a lot of knives and sharpen regularly it's worth it. It also works wonders on kitchen knives. Read some reviews of both systems and see what suits you best. If anything, send a knife to Ben for a free sharpening to see what the EdgePro is capable of. You'll be impressed.