You're looking for a 3400 rpm motor... what size is your drive wheel on that grinder? If it's 6" or larger, I'd recommend a 1725 rpm motor. At a 6" drive wheel, 1725 rpm will yield 2708 sfpm. With a 3400 rpm motor, you'd get 5338 sfpm. That's FAST for general purpose- I've known people to rough grind that fast, but nothing with much finesse. A 4" drive wheel at 3400 rpm yields 3558 sfpm, or about as fast as I'd want in a single speed grinder.
Also, have you tried running your 20A motor on your 15A circuit? Is it installed in the grinder, so that you could try to start the motor with a belt (load) on the motor?
I had a grinder at my Maui shop that had startup draw too heavy for the breaker. It was an old Square Wheel grinder. It would start with no load however. So, I'd keep the belt loose, start the motor, and immediately tighten the tracking/tension arm when the motor came up to speed.
The fact that it was a Square Wheel with a dust housing made this a bit more safe than it would be on other grinders. I don't necessarily recommend this, it's just what I did to make it happen for a while. Starting the motor is where it draws the most current, after that it drops and levels out. Maybe try spinning the contact wheel by hand with a belt installed just before you flip the switch.
If you have tried the grinder on your circuit and it doesn't work, maybe try to find a 20A outlet somewhere and make sure the motor actually does start up fine. You never know, you could have a blown start capacitor or something. If you can spin the shaft/drive wheel hard by hand, flip the switch and then it starts, you probably do have a cap problem.
Is your chosen spot for the grinder anywhere near a 20A outlet? perhaps you could use a heavy extension cord if the wire run wouldn't end up being too long. Does your shop have its own breaker subpanel? Is your wiring fairly exposed? There are circumstances in which is really pretty easy to add a circuit yourself.
I guess all this is my way of saying that if I was you I'd look for a way to make your 2hp motor work. For a grinder with a 2" belt width, 2hp is much nicer than 1.
Just my $.02. Someone will probably post after this about how I'm giving you dangerous advice and never to mess with electricity, go by the book and don't risk your home and shop. And they may even be slightly right.
