I don't have anything in 3V, but my waterstones put a great edge on my sr-101 swamp rat and my moras. I haven't had the same luck with some of my stainless folders so far, but I think that is user error.
Most all CPM type steels will laugh in the face of king stones, you would be causing more wear to the stone than the steel. I use a 1k & 6k Arashiyama but even those would be running the limits of effectiveness. Take a look at this write-up, it talks about 3v and waterstones. My choice would be obvious http://www.toolsfromjapan.com/wordpress/?p=713
I really like my diamond hones but not for that grind style, its difficult to grind evenly. I'd go with the sigma 1k and 6k and call it a day, you will thank yourself later.
FWIW - I've never had waterstones but have heard a lot of positive things about them *as long as* the initial prep work is done on a diamond hone in advance (setting the angle properly before hitting the waterstones...lapping the waterstones to make sure they are flat...getting the knife up to a med-fine finish) - then maintenance on a waterstone is much more effective. Again, this is what I've gathered from customer feedback on Scandi-Grinds in 3V steel.
I have both/use both on Dan's 3v. I really like the 1200x waterstone for final polish but I find that for any real sharpening the waterstones have to be touched up way to often and the diamond stones are the way to go. Dan does a great heat treat on 3v and really brings out the steel's true merits but that also means its a bit harder than what many are used to sharpening. Here is a quick shot of a 3v edge sharpened on diamond stones and not polished with the 1200x water stone. If I would use a water stone at this point it would have a true mirror finish.
I am also willing if anyone needs proof to make a quick vid showing sharpening a 3v bushcraft with only a diamond hone xx-fine and then stropping and the knife will be able to shave a single hair. I have made similar vids for a couple other knives on my channel and its a good way to show just how well a literally hair-splitting edge can be had with just a diamond stone and strop.
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