Scary Sharp--sandpaper on glass gets my vote. I don't think I've paid more than $30 in the past 7 years for sandpaper. The float glass I found, look around on trash day for old stereo cabinets.
I've got a few old cheap stones around that I use mostly on garden tool edges. Whenever I read about what it takes to flatten a stone, I groan. Find a piece of thick float glass that isn't flat.

Stropping, I don't do, but Fine Woodwork magazine a few years ago tested different methods and said stropping got the sharpest final edge. The barber I went to as a kid always stropped a before he raised my hairline.

The crazy woodworker show on PBS has a terrific video on sharpening and use of planes. Highly recommended.
Hand Plane Essentials with Chris Schwarz http://video.pbs.org/video/2172600556

The Lie-Nielsen video guy was great, thanks for the tip.
I hand hold, eyeball, and put a curved bevel on my planes and chisels. May not be perfect, but it accomplishes the same time saving principles the Lie-Nielsen guy uses. Not as pretty though--but I've never taken my planes and chisels out to sea.

Well that's three cents, I went on too long.....