that isn't completely true. Motors out of wshing machines,etc typically run 1/4 to 1/3 HP and run at 1700. Might take a bit of work to get them set up to run the expending wheel, but the price can be very good(free to a couple of buck)
Most commercial Grinders are set to run at 3600, though I just saw delta has a variable speed grinder out that may be my next commercial purchase.(just over $100 at lowes, and has an interesting quick change system for wheels and buffers. if anybody has used one, let me know how it works out for you)
I also know balder has a long arm buffer that is 3/4 HP but runs at 1800 RPM. used one at a friends house and it was really nice(it is where I first saw the expanding drums in use and they worked really well for him, though that was making armour)
And in my local junkyard I picked up a 1/3 HP blower motor that runs 1750 for less than $10, and found what I beleive to be a wrking 3HP 220 motor than also runs 1750. The 3 HP is going to be tapped for a KMG clone once I get my hands on some wheels to use. Paid $10 for it and was very happy.
So you just need to look around for the right motor or grinder.
but RPM limits on grinding wheels or such is definately something to keep an eye out for. I'd hate to think of the failure of a low speed stone being used on a high speed grinder.
Kindyr