So I have a few situations, that I hope more experienced sharpeners may clarify.

1: has anyone else used a wheel leather strop? Have they come across any issues using one?
I have one at work (At a knife/kitchen shop), I've used it on a few razors, it does an amazing job polishing the edge, however I fear the curvature of the wheel effects the angle of the bevel-possibly creating a convex bevel.

2: I have a co-worker who debates the amount of stropping compound. He argues that leather imbedded evenly with compound, creating a scraping feel, is faster and polishes micro-serrations better than my method of using more compound in a "slurry" fashion.
I started using a slight excess of compound on the strop wheel because I found the the leather was deteriorating quickly if dried out. I also found that the bevel created by the Tormek wheel was polished out extremely well and seemed to occur more quickly than using less slurry and more abrasive leather.

So: are wheel strops a good way to save time, and does a compound slurry on a strop create a better finish?