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I was initially skeptical, but these sharpening systems come highly regarded. Priced approximately $80-150 I believe.
http://www.chefschoice.com/page2a.html
They have different models, the one I am looking at has 3 passes...1) grinding stone 2) diamond hone 3) very fine diamond hone. Apparently it gives a very sharp edge in about 30 secs with no training. Over a lifetime, it will pay itself off easily. I have not purchased one yet, so I do not have any first-hand experience. I have read so many bad experiences of people having their knives "professionally sharpened" - that is why I was looking for alternative methods.
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I've used one of those on my Henckels for the 10 years I've had them and think it works great on nonserrated Henckels, but after 10 years, I think I do need them professionally sharpened by someone reputable. After many years, they just get too many nicks that can't be taken out by the Chef's Choice. But in between professional sharpenings, it does great.