Taz,
With a few mods the Grizzly will work pretty well. My only complaint is that it is not variable speed.
1. If your contact wheel is not true and out of balance, send it back. Tell them to send a good one and check it before shipping. Their customer service is good, IMO.
2. The L-bracket which supports the idler adjustment knob is weak. Put some shims behind it to eliminate play.
3. The platen will not be flat. For a quick fix, bend and/or hammer it flat and hand sand it on a sanding block. The better alternative is to replace it with a piece of hardened steel. Also consider radiusing the edges of the platen.
4. The rest that comes with it is junk (might make good practice material...lol). I fabricated my own rest out of some angle iron and plate steel. It attaches to the platen support bracket. When yours arrives, let me know and I will walk you through it if you are interested. It helps to have a visual.
5. I had Rob Frink make me a 4" drive wheel. It really helps when doing the finish grinding (if flat grinding).
Opinions vary on which belts to buy, so I will tell you what works for me and why. I use 3M ceramics (60, 120, and 220) and Trizacts. Norton Hoggers (60 and 120) from Tru-grit are also good. I just bought some 967 belts that are supposed to work well at slower speeds. I have not had much chance to evaluate them, though. In my experience, AO and SC cut slower, run hotter, and wear out faster. Even though the belts I use are more expensive, I am saving money.
I just recently started buying from James Poplin of Pop Knives. He has better prices than others I have found who sell these belts. His number is (706) 678-5408 (call between 4-8 pm eastern).
Brett