Oil and water are no more than carriers to lift and remove the swarf = smashed abrasive particles and shreds of metal.
My oil stones are 80, 120 and 220 grits. Garden shovels, hoes and jointing badly damaged fine carving tools.
For fine edges = knives all over the house and my wood carving gouges, adzes and crooked knives.
I use 1/2 top 1/4 sheets of 3M fine automotive finishing sandpapers taped to flat surfaces.
600 for a bad edge then 800.
Most edges, I can inspect and start at 800 then 1k then 1.5k or 2k. not much incremental difference there.
I have 1k and 4k waterstones, they're really nice to use.
For wood carving, the key step is the very last one = honing on some sort of a strop.
My preference for many years is a mix of Chromium Oxide with Aluminum Oxide, scribbled on the strop.
I stand up, I work parallel to the edge of the bench. I have cards showing all the bevel angles that I need to use.
In degrees, 6, 10, 12, 15, 20, 25, 28, 30.
Black felt marker on the bevel to see what I'm doing. Arms tight to my sides. Match the angle on the card.
Pull strokes only, I sharpen with my legs, not my arms.
The reverse, fixed edge and moving abrasive, is necessary for the adzes and the crooked knives.
If you sit and use your arms, your body anatomy will make you round off the bevel, right at the edge.
So
Even the bought systems have a learning curve. They all work, just pick one and learn what to do
and maybe more importantly, learn what doesn't work.