Hi John,
If you buy a Lindsay graver with footpedal I believe you get a precut graver with it. For your graver sharpening I would get Steve's system to cut the gravers
http://www.handgravers.com/sharpening.htm and maybe the powerhone
http://www.engravingforum.com/showthread.php?t=1644 that is adjustable to work with these templates.
I asure you nothing can go wrong with sharpening your gravers with this system if you follow the instructions correctelly.
The stroke length adjustment is pretty important to be able to make fine or broad lines possible with the least effort. The tungsten piston is important for the heavy work.
Hope this helps.
Daniel