I'd think the Coote might be more versatile. If I had it to do again, I'd probably go that route.
That being said, my first grinder was a Grizzly, and I still use it for every knife I make during handle shaping. It has some tracking issues that can be improved by wrapping a few layers of electric tape on the crown of the tracking wheel. Also, take a cheap foam vac style filter and tape it over the vents in the grinder to prevent metal dust from entering the motor housing.
The Grizzly runs pretty fast and being direct drive cannot be slowed down in any way without extensive modification. Also, the motor isn't the most powerful and you will tend to bog if doing really heavy grinding. But all of those things can be worked around. You might want to check into getting a pyroceramic platen liner to replace the graphite liner as it wears. It will give you a more true flat and wear much better. Darren Ellis carries those in various sizes.
I've said before that if you can learn to grind well on a Grizzly, you'll have a much easier time when stepping up to a better grinder. It takes a delicate touch and a good amount of control. Don't expect perfection from the very first blade as there is a learning curve to grinding on any grinder. Go slow and gently, and you'll quickly learn how to fix mistakes in your grinding.
--nathan
