Wimps!
Guess what? I grind everything on an 8" bench grinder. Its a hell of a lot faster than my 4X36 belt sander, and with some practice I've turned out blades a lot nicer than with my belstander.
The trick is to get good wheels, and a good grinder with good workrests. Nothing fancy I've just got an 8" craftsmen profesional. Overheating isn't the big deal everyone makes of it, keep the bucket handy and keep the steel cool. When you get down to thin stock, you just have to have a light touch and keep the steel moving across the wheel. Its not as horrible as these guys make it out to be. Its not as nice as a 2X72, but I can't exactly afford on of those critters
The main things you'll want to have, are a good stone dresser, and 2 different grit wheels. Nothin super coarse because they wear down faster.
And you can't do large batches very well, because as the wheel wears it gets smaller. If you grind out ten knives and HT, when you go back to finish grind the wheels will be smaller than the radius of your bevel on the first knife. Doesn't cause a lot of problems but your in for more hand finishing work.
If you think about what your doing it works out pretty good.
Profile and set the bevels on the coarse wheel, and then clean things up on the finer grit wheel right before your ready for heat treat. After heat treat finish grinding on the fine wheel, and go slowly.
Dress the wheels often to keep them square and balanced.
I actualy like mine, and wouldn't trade it for anything but one of the big professional belt grinder set ups. I can grind a 4"-5" blade out of 1/8" X 1" stock in about 2 hours easy. And I don't have to deal with belts going dull halfway through.