There are some issues with tracking with the Grizzly. Do an internet search or a search on here, and you'll find some tips to help. I've had no problem with mine, but I'd much much rather have a nice KMG. But, no dough for it at this time.
It'll grind fine, invest in good belts. You might want to modify or build your own work rest as it gets tricky to set up for hollow grinds if it's already set up for flat work. Also, you might want to place a little filter over the cooling vent on the bottom right side of the motor as it's located in a perfect place to suck up metal grindings into the motor.
Oh, and GET A NEW PLATTEN FACE. Invest in a nice ceramic-type platten. The one it ships with is a cheap graphite platten face, and it will burn right through and groove within a couple of knives, especially if you lean into it. Just scrape the old platten face off with a blade, and epoxy on the new one.
It's a great learning tool. If you can grind well on a Grizzly, you'll almost certainly grind better on a KMG or Bader once you're able to afford one.
Good luck and have fun!
--nathan