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Try it both ways and see for yourself! I would guess that you don't need to worry about smooth until your Asagi, but I'm confused about your Chinese hone usage, as I haven't seen the sharp/smooth...

This is overly broad, but...

Experiment!

Try everything. Make a slurry, dilute a slurry, don't make a slurry, don't use water, try pressured strokes, try light strokes, compare circle strokes...