The finest edge you can get on any tool is with a strop or a buffing wheel. Unfortunately, it is difficult to get that edge without rounding the bevel somewhat when using a wheel. In certain cases (such as with carving tools), a rounded bevel may be desirable, but with chisels and plane blades, it is best to maintain a predetermined bevel angle. A hard felt wheel is best for that.
When the wheel is dressed with the Veritas blade honing compound, the edge obtained is comparable to most razor blades.
A medium felt wheel is still very firm, but is more suitable for carving tools where controlled bevel rounding is desirable to give edge strength. A narrow, medium felt wheel is best for the inside of carving gouges.
All felt wheels are bored for 15.9mm (5/8in) diameter arbors, but a 12.7mm (1/2in) bushing is provided. Maximum speed rated to 3600rpm.