At the risk of sounding like me, I would suggest mastering the use of the leather honing wheel for removing the burr on both the bevel and back of a chisel before looking for other options. This would not be a problem for those who decided to use my practice chisels suggestion, the first post in the general Tormek section. I am not sayiny that the leather honinh wheel is the only or best way, or that there is anything wrong with other methods. I am merely stating my belief in mastering the standard method before looking elsewhere. For those who have really mastered the leather honing wheel and are unsatisfied, please keep looking for options.
In my opinion, any procedures beyond the SJ and burr removal are generally overkill. In fact, I think for general woodworking, the SG coarse and fine, plus the leather honing wheel is quite adequate. You posted this in woodcarving, so perhaps you mean delicate carving chisels instead of bench chisels. I am not a carver; sharpening standards for carving chisels may be more demanding than for cabinetmaking.
Paper wheels are designed to be used at high speed to melt the wax of the compound. Especially with thin carving tools, it is easy to overheat the tool. Because of the heat issue, the only power tool I would recommend would be the Tormek.
The side of the wheel became more difficult to use when Tormek upgraded to the new safety switch. Those with the older switch can use a foot switch and have more control placing the back of the chisel against the back of the chisel. I still believe a ceramic stone is the most practical solution.
Ken