A 40 grit blaze belt will "last" through one big s30v chef's knife for me, but the dropoff is cutting efficiency is huge. I'm basically nursing it through the end of the grind. With any other belt on good stainless it's basically useless.
http://www.supergrit.com has some cheaper ceramic belts. I can report good performance from the purple Bora belts, close to the blaze for half the price. I got some of the cheaper ceramic belts as well, the first couple had an issue with the joining tape letting go when they got warm. Supergrit was cool about it and sent me another batch. I haven't ground a knife with those yet so I can't report on performance, but I used one a bunch yesterday grinding parts for my new 2x72 (grinderception?), and it didn't come apart. That could be because the plain steel was grinding cooler, we'll see. Regardless, I can recommend checking out the Bora belts. Supergrit is also the only source I've found for ceramic 4x36 belts, which was a huge help for me.