Never seen anyone who knows a lot about knifes recommend an electric sharpener. They take too much metal off the blade and if you don't draw the knife through the correctly, you get a badly sharpened knife. How much did you invest in your knives and do you trust them to an electric machine.
Now for the lazy man, I own that exact model (it was a gift) but not on my chef's knives. Just on the stainless steel (guaranteed for life stuff) that won't keep an edge. It works and works well, but the stainless knifes just won't stay sharp (partly because of the steel itself, and probably because of the specific method of sharpening)
I spent as much on one knife as that sharpener costs and I'm just not sure about my chef's knives in it. I know enough about sharpening that the angle and the primary bevel matter a LOT.
"sharpening" a knife should only be done occassionally and then honing with a steel between uses.
I Sharpen them professionally (pay a guy $3 a knife and they are razor sharp) once a year before contest season. Then I Steel them before/after every use. FYI, Steeling them doesn't actually sharpen them, it realigns the kerfs that form from cutting (saw a cool video on TV, wish I had it to show).
Hope that helps some.
Here's a good site for Knife info:
Sharpening made easy