Get the Sharpmaker, and a 6" utility stone from the hardware store (about $10), or a coarse diamond hone (usually about $20). Diamonds are a little faster, and definitely cleaner.
The Sharpmaker will do 90% of what you need. Theoretically if you sharpen often enough you will never need anything else (it just about never works out that way, but some people do manage it).
If the knife does go flat out dull, you will probably need the coarse grit sharpener. All you need to do is take the edge bevel back a bit so the Sharpmaker can get at the edge again. Try to match the 30 degree angle (15 degrees per side) that the Sharpmaker grinds at. Practice on some cheap kitchen knives to get a feel for it, and use the sharpie trick to see where you are grinding (paint the edge, where it is still black, grind more).
Some people stick a coarse stone or sandpaper on top of the Sharpmaker rods to keep the angle the same.
If you're really adventurous, you can grind back the edge bevel way more than necessary, and just use the 30 degree setting on the Sharpmaker for a micro bevel. Awesome cutting ability.
This is the path to the dark side. Forever will it dominate your destiny.