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That's certainly one way to do it. The tape changes the bevel angle and since the paste is quite aggressive this creates a microbevel at about 0.5-1 degree steeper than the regular bevel.
The same...

1. The outcome should be sharp razor, it'll have slightly different feel, which one you prefer you can only tell by trying both, or more realistically you'll just like the one you use.

2. Most...

here's my take on this
1. the direction of the blade, edge leading on hone, spine leading on strop, you'll also have to keep the strop tight and be careful not to paste it too heavily or strop too...