Depending on the use, I strop some of my knives. Stropping leather is usually impregnated with some sort of abrasive compound. I don't think flitz is going to be ideal for most stropping needs, you would want an abrasive a little more aggressive than that. Jeweler's rouge is the finest stropping abrasive I would ever use, you can get a mirror polish on your blade edge with it. The leather tacked to a board is a good approach, and will work better on angled edges. A piece of stropping leather pinned on one end to a secure object and suspended (like what the old time barbers used) polishs a convex edge. In fact you can make a convex edge this way.

Ideally, I like to start with an emery compound when I am working a new blade or reworking a badly damaged one that I've stropped previously. It will take off more meat on the edge and let me reshape the edge quicker. If I am going to use the knife for field work, like a big fixed blade or a utility knife, then I will stop with the emery compound and leave the edge micro-jagged. Such an edge seems to work better on cutting fibrous materials like paper, rope, carboard, tree limbs, tape and such. If I want a shaving edge, then I will work down to finer grades, ending with jeweler's rouge if a want a push-cutting edge. My leather cutting knives are thus sharpened, as are my smaller pocket knives, and my butchering and carving knives are sharpened like this as well.

Look at it this way, some emery compounds are as gritty as 300 grit sandpaper. Jeweler's rouge is about like 4000 grit sandpaper. Tool leather (the kind that you make fancy stamped and carved wallets and belts out of) makes probably the best stropping leather. I like working the rouge into the hair side of the leather and replenishing it often during the sharpening/polishing process. The hair side, or finished side, is as uniform a surface as you could hope for, and seems to give the most consistent results.

Properly worked, you can make an edge "Scary" sharp by stropping. This is where the weight of the blade held stationary on your fingernail is enough to leave a cut mark when removed.