Belt grinder build questions

The only place near me sells step pulleys for 20$ each so to do variable speed I would need two of those and a 10 dollar belt (50$) so I found this drill press and I thought I could use the motor and step pulleys on my grinder the step pulleys make the drill press go these speeds 620,1100,1720,2340,3100. How do you guys think this would work? It is a 8 inch drill press and I'm unsure what brand and the horse power rating n the drill press.


http://classifieds.castanet.net/details/drill_press/2533420/
 
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