Sharpening knives with paper wheels is very fast. The average time to sharpen a kitchen knife in good condition is about one minute.
I use paper wheels a little differently than recommended by the manufacturer. Here is how I modify a bench grinder for safe use of paper wheels. First, buy a dedicated 3600 rpm grinder for your paper wheel system. Changing the wheels too often can introduce wobble in them. Buy a 6-inch grinder to use 8 paper wheels. The extra clearance is needed when sharpening long blades. Buy a grinder with removable guards because the guards will taken off. Removable guards are usually sheet metal, while permanent guards are often part of the motor housing casting. Don't go too cheap - expect to pay $40 to $50. Avoid lights, they make it hard to turn the grinder around as described below.
I really like using a 6" buffer. Harbor Freight has one for $50, on sale every couple of months for $40. Slim motor and long shafts give you plenty of finger room, easily reversed, no guards or wheels to remove and throw away. Just nearly perfect.
Normally a grinder wheel turns toward the user and grinding is done on the front. I prefer to reverse the grinder so the wheel turns away from you and work on the top of the wheel with the edge away from you. This allows you to see what you are doing, and debris will be thrown away from you. If your grinder has a removable base, and most do, you can remove it and turn it around so the switch is on the front side.
paper wheels with angles marked
Hold the blade level and work near the top for a small angle, down the wheel closer to you for a larger angle. I've marked angles of 0, 15, 20 and 25 degrees on my wheel. When the blade is held horizontal the angle between the blade and the wheel is equal to the angle between the point of contact and vertical (equal triangles). Put zero at the top and position the blade at the angle mark you want to grind before you start the motor. Then turn it on and hold the angle steady as you move the knife.
Practice a little and you will learn how to hold the blade to get the proper angle. Paper wheels seem to produce a sharp edge even though the angle is not well controlled. Put a good light over the grinder so you can see the burr as it develops then polishes away.
CAUTION: Safety glasses and other protective equipment should always be worn when using any high-speed sharpening equipment. A final note: Because the wheel is moving off the edge, it can cause a non-locking folding knife to snap closed, so be sure your fingers are safely positioned on the sides of the knife handle.
PLEASE GIVE CREDIT TO MR. STEVE B. for the above and what he has contributed to so many sharpeners.