Kevtan,
Most of the disks are 9 inches in diam. and 1/2 inch thick. I only have one, its easy to peel off a sheet of abrasive and replace. It is best to have a disk small enough to cut abrasive sheets to fit, less expense. Think a 1/2 horse motor is minimum, now using a 1 horse for this at 1725 rpm. Lucky you with the 3 phase.
Everyone probably has a favorite grit. I use 60 grit for shaping and 120 grit to finish on the wheel, then finer grits by hand until you are happy. Some go to 1000 or 1200 grit by hand and never polish.