I am new to the tribe net and this is my first post. So I am going to take my best shot at answering your question. I learned Knife making from my grandfather and a few friends over the years. I have seen all types of grinders used. Everything from a bench grinder to belt grinders and my personal favorite a automotive angle grinder. Or what some people call a fast wheel. to Minimize confusion as to what I am talking about here is a link showing a picture of what I use.

www.automotivepartsnetwork.com/st...asp

The advantages of this are quick stock removal and the ability to change discs to deferent grits thus you can change the amount of stock removal and can use it to get you closer to final surface sanding and then polishing.

The disadvantages are with rapid stock removal you can overheat the steel and ruin a temper if you are not careful. Its a tool that takes time to master and if you slip up you can create more work for yourself in the manner of stray scratches. Like all tools it is something you must practice with to gain some skill. I use an automotive Angle Grinder in all the blades I have made over the years. Attention to detail and Patients are your best and most valuable tools.

I hope this has helped.