I have that exact machine in my shop Delta 1" x 42". It was the first grinder I bought, picked it up at Lowes for $99.00 I believe. With the 8" disk sander and a variety of belt grits, I made my first 4 knives on it. As Vorpal said, she'll get ya started, and waiting really does suck when ya got the bug. The platen is really not much to speak of, but the disk sander is pretty good at shaping handles. The rests are pretty good as well. My other grinder is the Grizzly 2" x 72", and works pretty darn good for the money....$395.00 2 yrs ago. You have to modify it a bit though.
Grizzly also makes the same style 1" x 42" grinder as the Delta....but I'm not sure how much it costs or how well it works. That being said I use my Delta almost every time I make a knife....not a bad investment for $100.00.