I have only used the cow leather myself. From what I understand, the advantage of kangaroo leather is that it doesn’t compress as much, so there is less risk of rounding the edge while stropping at angles close to the sharpening angle.
The nanocloth is designed to be a grit free base for whatever stropping compound you wish to use. The naturally occurring silicates in leather have some abrasive properties and can cause stray scratches when using ultra fine stropping compounds. From what I have been told by Ken Schwartz, this effect only becomes evident once you get below 0.25 micron or so. In other words, nanocloth is overkill for use with compounds larger than 0.25 micron.
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