Not only does a polisher refine edges and make bevels look attractive, but we also have stones for repairs.
The worst repair is a "pie cut" chip. Let me explain.
Most folders get little dings in them as a matter of course. However, when you see a deep, triangular wedge taken out of a bevel you know the knife has taken a hit, perhaps dropped on concrete.
Yes, the final strokes will blend your repair to the rest of the edge, but as for a severe chip, you must get it all out, every bit.
Like glass, hardened alloys will just keep causing issues with the original damaged area. And when you remove the chip, you have to take a little more of the area as there might be the start of an unseen crack.
Once that is completed, the next step is to blend the bevel into the repair. Below is Bigdog's Benchmade, and it had a bad chip I found with a single stroke of a stone. It's not fatal, but you have to take some extra care in removing the pie-cut.
Click on the picture to enlarge