I don't use a microscope but a 30X Loupe and it is excellent for setting a bevel and checking for micro-chipping. When I started out I used it a lot more than I do now. Once you have been honing a while you can usually feel the edge on a stone that have used a lot and can usually tell if something it wrong. I keep track of the honing process by looking at the reflecting light on the bevel. It tells a lot.

Take Care,
Richard