Thanks for the email.
Ok, yes soak the stones. I usually do about 5-10 minutes before I start. If they dry out as you use them just splash more water on them and keep sharpening.
The 4th item is a balsa strop with boron carbide pre loaded. You want to use this after your arashiyama stone. Use edge trailing strokes only or you run the risk of cutting into the balsa.
Let me know if you have any other questions.
Here is the set we're discussing.http://www.chefknivestogo.com/edproesset.html