Stroke sanders are the least appreciated and the most misunderstood machines. Very fine finishes can be achieved with them. One time we sanded a veneered panel 4 times because the finishers couldn't get the stain right and still salvaged the panel.
The lever type are called fulcrum pad stroke sanders and are perfectly designed as such, They definitely are more efficient then hand block sanding if spending 8 hours at a time on the machine.
I consider myself and expert on the machine having worked with them for over 40 years in metal and woodshops. One shop we had 3 stroke sanders and 1 widebelt. One stroke sander had flexible "J" weight belts and we used a graphite glove for sanding contours.
http://www.pecfrictionfighters.com/product.aspx?prodID=65 This is the go to source for graphite...
The other sander had a pneumatic platen that was lever operated and the third stroke sander was a double belt through feed model.
Few people know how to properly make a handblock pad. You can somewhat teach yourself to use a stroke sander but you will never master the subtle details. I learned from a 40 year veteran of the stroke sander. The best handblock is a hollowed out and the hollow is filled with lead or steel. Underneath the graphite canvas is a piece of 1/4" firm felt carefully manicured with a 1/16" taper on the edges. The same holds true for a handblock or fulcrum pad sander.
It takes a lot of practice to master it and it's especially true of the fulcrum pad sander. I know pf one high end shop that had a stroke sander and could never figure it out and finally got rid of it. Because they are so minunderstood they are often priced at scrap metal prices. I brought a stoke sander in a custom metal shop that thought there was no machine that could duplicate their hand sanded finish. Boy were they wrong. There's a place nearby that does bronze plaques and uses a stroke sander to smooth the face of the plaques.