I am by no means an expert on honing, but for me, I do not get the desired results with paste alone when I want to touch up a razor. If I just go to the paste on a razor that I feel tugging, I do not really notice much different the next shave. However, if I go to the Naniwa 12k, followed by the paste, I am back where I want to be.
This is what has been working for me so I will stick with it. I feel that the paste is necessary, but for me, it is only used after the hone rather than a substitute for it.