I have had one for about 10 years or so. Mine wasn't the top of the line at the time - no idea what the model number is.
I bought probably 150 used bits in some boxes awhile back and I've been sharpening them a few at a time for several months. Seems to still work perfectly well to me. The sharpened bits cut fine.
My only complaint is that my particular model doesn't work on anything larger than about 3/8 inches - so the range is a bit limited. That's not a problem with the tool. I seem to remember a big price jump up to the larger model, so I didn't buy it.
A couple tips I've learned. It's really important to learn how to properly orient the bits in the "chuck" with the setup fixture. If you do it correctly, the bits come out perfect, if you don't, you will not get them sharp. I struggled with this at first, some bits don't line up very easily.
Second, it's also important to match your passes across the diamond wheel on both sides. Match them in both number of passes and pressure you put on it.
The only other problem with it is that once you learn how to use it, you can knock out all your dull bits so fast that you put it away and forget how to used it when you pull it back out.
For a DIYer, it's only a once every six months, 30 minute use, tool. For that rare of use it might be easier just to borrow one rather than buy it.