The regular V-slots do a great job, but there are lots of those out there. This one DOES do a great job. 5 swipes on my Gerber Multi-Tool blade, and it was 'like new' sharp.
However, with this sharpener, you get the 'spike' with diamond grit. I have never found anything to handle serrated blades, like my Gerber also has. (I know they are out there, this is just the first one that caught my eye) I spent 3 minutes on my dull serrated blade, and it was back to 'like new'. Very easy, very quick.
So, the beauty of this device is, both style of blades can be sharpened.