Here's a link to show you the profiles of different blade grinds:
http://www.the-knife-connection.com/common-knife-blade-grind-types.html
The convex edge is best achieved with sandpaper on a cushioned backing, such as a mousepad. You can approach a convex edge with multi-bevels, but that's no fun with a flat stone and much slower.
My favorite knife, and my EDC, is a Benchmade AFCK with M4 steel. My second favorite is the Manix (the real Manix, not the fake Manix II) in S30V.
The AFCK teaches two things: 1) the factory grind of about 50 degrees inclusive cuts like crap (but looks nice, because you don't see a lot of shiny bare, non-stainless steel edge against the black coating) and 2) the sabre grind is crappy for a lot of things, like cutting cardboard, because your trying to push a fat spine through a narrow cut.
The M4 steel is probably the best all-around steel going: tough as nails, easy to sharpen, good at holding an edge. It's what most of the choppers use in the big-blade competitions. But the AFCK has a sabre grind. My Manix has a flat grind. Even if my M4 is sharper, my flat-grind Manix will slice through cardboard a lot better than my AFCK.
When I got my AFCK, I cut the 50-degree edge down to 30 degrees, and it cuts much, much better. I'd like to have it reground to a flat grind, and maybe I will, but that's a pretty severe change for a 250-knife limited run that is no longer available.
For thicker blades, which do not go through material as well, a convex edge is hard to beat because the edge doesn't get hung up on anything.
Normally, I carry my AFCK because it is an awesome handling knife, perfectly balanced (dead on the lead finger) with a great, great steel. But if I'm going to have to cut something that the whole blade will have to pass through (cardboard as opposed to rope), I'll switch to my Manix in S30V or my Military in BG-42.
When you combine handling and balance in a high-quality, purpose-designed knife with an understanding of blade geometry and the ability to create and maintain the appropriate edge, you'll be running with the big dogs in the knife world.