Like Cecil, I pretty much stick with the 120 grit wheel, and in most cases I don't go any finer. I just use the chisel straight off the grinder. I've also got a little diamond hone that I use to touch up the edge between trips to the grinder.
As for the angles, I pretty much try to keep things at about the angle they came from the factory with, although I'm not afraid to experiment and try something a bit different, especially on gouges. Part of the reason for using the HF tools to start is that you can afford to grind on 'em pretty often as you experiment with things like bevel angle.
A lot of guys get good results free-hand sharpening, and a lot of us use a sharpening jig like the Wolverine. (I use the Penn State knock-off of the Wolverine, which gets the same end results.) There have been a number of folks who made their own jig, often using the Wolverine-style jig for inspiration.