For sharpening and honing blades that are in good shape, I use Norton water stones with a Veritas MkII honing guide. For roughing in dull blades, I use sandpaper on a 12" x 18" granite surface plate (they're actually reasonably inexpensive and last a lifetime), which I also use for flattening the soles of planes. Once roughed in, they get honed on the water stones.

I have a Worksharp 3000 that I bought to sharpen tools used in classes, as it's faster when repairing a dull/damaged edge and easy to transport. For blades in need of serious material removal, I use a bench grinder with a Veritas rest.

Planer and jointer blades require a more specialized machine, such as the Makita 9820-2, which works pretty well. However, I replaced the head on my jointer with a helical carbide model and would never go back to blades again. My next planer (if I ever replace my current one) will have a similar head.

I have to admit to be a somewhat of a "tool junky" and I've picked up a few stationary belt/disk sanders and grinders at estate sales for little money. They're handy for a variety of sharpening tasks.