Your higher speed belt grinders is for removing material at a higher rate of speed. When you have a piece of steel and want to get it into the shape of a knife or anything else that you are making, you don't want to spend any more time then you have to doing it. Prior to hardening the knife you also don't have to worry as much about the temperture of the material. When putting the finishing touches to a knife you want control over what you are doing. The slower belt will add to that control and since you are not roughing out, but rather finishing you project you don't need the higher speed or rough sanding belts. With the high speed it can take seconds to ruin many hours of work. I'm sure that there are some out there that can control their work using the high speed when completing a knife but this takes a light touch and considerable skill which comes with time. I have been a machinest for 40 years and had to repair parts to million dollar machines. Would much rather run the belt grinder slower then faster when finishing up these presision machine parts.
I don't think a 4" belt sander is what I would use to reprofile or sharpen a knife. The belt is too wide and it will be very difficult to sharpen near the tang due to the plate behind the belt. Also not the best for a convex edge.
I just ordered the Kalamazoo 1"x42" for $225 (includes shipping) at a local supply shop. If I ordered the Delta SA180 about $135., I would have to add another $60 or so in parts + time to slow it down. The quality between the two does not compare IMO. This is a great forum with lots of info. Good luck in you sharpening.