I have the Tormek and rate it highly as a watercooled grindstone. I use it for established the primary bevel on all my handtools, unless I am simply "re-doing" an existing flat bevel that does not need a lot of work - in which case I head for a coarse diamond stone.
I have less success and little inclination these days, to use it as a complete sharpening solution. As mentioned in a thread elsewhere, I favour the Charlesworth method and it is just so quick to take a blade from the Tormek to a stone and put a suitable secondary bevel on it. I find this also produces a better edge than I get with the Tormek. However, I am quite prepared to believe this is lack of practice. I have used the leather stropping wheel to produce a very good edge at times - it is just not so predictable for me as a flat stone. I alos like a "crowned" blade on many of my planes and I think this might be difficult to achieve with the Tormek - although as I haven't tried it, I cannot say for sure.
If I were a turner and had all those fancy tools to sharpen - or a carver for that matter, I suspect I would get a lot more use out of the Tormek. As it stands, it is an expensive way for me to do a rather simple job - but it does it very well!