Probably should have asked first...

Gentlemen-
Asking this question before buying would have been the smart thing to do, but where's the fun in that!

On the way is an SRD double hard wool felt strop (I chose felt for the other material as well) along with some diamond and chromium oxide spray. My plan is to spray one with the diamond and one with the CrOx. I figure this would cover a lot of bases. My question is: for which application/situation would I use either? Is one better to freshen up carbon steel and the other stainless? Is one better to refresh an edge and the other best after honing? Please tell me what you guys do - any and all tips/advice is most welcomed!

Thanks a lot - Gags

I have both chromium and diamond (both .5 micron), I mostly use the chromium because I find it gives a smoother edge (it might be all in my head though) both do a good job of touching up a blade, only takes about 10 passes when the edge starts to tug when shaving. I also use it to finish the blades when honing. Since you already ordered both, try them both and see which one you prefer. Hope this helps.
-dan-

+1 on sinnfein's advice.

I use the diamond spray myself to refresh an edge. However, the CroOx does create a smoother shaving edge. Or so I've heard here at SRP

Basically, diamond cuts faster and will impart a sharper feeling edge, whereas (as has been mentioned) chrome ox will leave a smooth comfortable edge. As far as steel type goes I don't think one is better than the other, but you should experiment to see what works best for you. I would recommend that you start off with diamond and if it feels a little harsh on your face you can always tame it with a few laps of chrome. The best of both worlds :)