The difference is VERY significant, given a reasonable degree of skill. There are lightyears between a good 8k edge, which should shave okay, and a well executed 12k synth edge or a good natural stone edge. Or a 1µ lapping film edge. With any tool kit, there are about a million times more ways to get a mediocre or even a lousy edge, than a great one.
Paul's skill level or any accomplished honer's skill level absolutely makes a big difference. The thing is, nobody is keeping their methods secret. Nearly any honer on any straight razor forum will share their method in great detail, the greater detail going to those who seem to be the most teachable.
I think you mentioned the high cost of a good finisher in another thread. High cost of course is relative. Guys who routinely buy $350 to $1200 razors don't find Naniwa or Shapton, or workman grade Jnats, to be expensive. Someone who can only afford to spend $40 or so on a stone is sort of left out in the cold. Sort of...
https://www.tapplastics.com/product/...cast_clear/510
You want 1-1/2" thick, 3" wide, 12" long. Trust me on this. This is the ideal size, so don't fall into the false economy of downsizing. Since it will last forever and be usable with any grit of film or sandpaper, and cannot be damaged by any reasonable means, and the cost of even this generously sized chunk of acrylic is much lower than even a mediocre Chinese no-name stone listed as a finisher, it is highly economical. Best results are from holding in hand, not resting on a bench or other unyielding surface, and you want it thick enough to keep your fingertips out of the path of the razor. Acrylic is light enough that the weight is not prohibitive. The material is essentially unbreakable and not prone to flexing or warping, and since the razor does not touch the acrylic, it does not wear, and never needs to be lapped, though lightly chamfering the edges at maybe a 1/16" radius is not a bad idea.
https://www.newark.com/3m/262x-1-mic...AX-Med-ROAS-V1
3M type 261x or type 262x (1µ grit is only in type 262x for some reason but AFAIK 261 and 262 are the same) NON PSA backing. DO NOT attempt to use PSA film. It will bite you in the ass with astonishing regularity because you cannot easily reposition the film. One sheet is normally cut into thirds lengthwise. Each piece should do at least a dozen razors, maybe as many as 20, so between 36 and 60 razors from one sheet.
So there's a very good finisher for about $30. Ongoing costs of a few cents per razor for new film. I honestly don't know how you would go any cheaper with a reasonable amount of real estate to hone on. Like stones, you can turn out a not so great edge, or you can finesse a pretty good edge. 1µ is a little finer than a 12k Naniwa Superstone and is basically interchangeable in a synthetic progression for that stone. There is a very good thread on this on another forum that I will decline from naming. Beware. It is REALLY EASY to get the wrong stuff. Also be careful not to slice into your film.
Once you have the plate, no reason not to get the 3µ and 9µ film, too. Then use a good bevel setter such as the Naniwa Chosera, and run the film progression.
Learn to do this and maybe I will tell you the correct way to use diamond paste with balsa to go crazy sharp and surprisingly smooth. Do it wrong and you won't get nearly as sharp and you won't get nearly as smooth. But learn to create a professional quality 1µ film or 12k Naniwa or a good natural edge first, or you waste your time and anybody else's who tries to help.