I'm surprised you've been able to push it that hard. .005" @ .250" is pretty fast for a grinder that size.
If you need to take a large amount of material off with a surface grinder in order to flatten things out, the fastest way to do it in my experience is to take a larger depth of cut with a smaller infeed. Say, .020" depth of cut but with a .010 or .020" infeed. It does take longer for that particular pass, but usually it's faster than taking 4 passes at .005" DOC. One reason it's faster is that it breaks down the corner of the wheel quickly exposing new cutting surface, where multiple shallow passes has a greater tendency of loading the wheel rather than breaking it down.
Additionally just like belts, coarser wheels are faster at removing material. I've always liked Radiac red wheels for that type of work.
Last, a little trick, when dressing the wheel with your diamond, after you've set your depth and trued the wheel up so you know where everything is, take a .0015" pass at very rapid infeed rates. Maybe 75% as fast as you can turn the infeed. This will leave a coarser surface on the wheel which will also help eliminate loading. It may be tough to get the finish you want with it dressed that way, but usually it is fine.
I have zero experience with belt conversions. And my favorite surface grinders are automatic and programmable, like Salem said, who cares how long it takes if you can be doing something else.
To get surface grinding precision flatness and finish in a faster process, the only option is really blanchard grinding, which is out of the realm of most people given the nature of the machines and it's not quite as precise or as good at finishing.