I'll throw in my two cents worth. I use a power strop for sharpening carving tools, and I feel I'm pretty capable with a power strop. Have done it for years.
But no matter how I try, if I use my power strop on chisels and plane blades, I dub the edge. I find I get a much better edge straight off my water stones with chisels and plane blades.
And I've really tried a number of times to use the power strop on those tools.
I can only guess the reason but I think it has to do with the bevel angle. Carving tools use a very low bevel angle, and even if I sharpened them by hand, I'd get some rounding of the bevel because you just can't hold the tool that flat.
I use a jig with my chisels and plane blades so the angle I set it to is the angle I get. I suppose I could try really reducing the bevel angle of a chisel and see how the power strop finished the edge. My guess is that it would dub the edge somewhat, producing the equivalent of a secondary bevel, but the net effect would be a bevel of 25 to 30 degrees, which would work. I'll have to try that one day.
Mike
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