Daniel,
A lot of lapidary equipment can get a second life in the blade shop. Diamond cutting laps can shape carbide tools easily, and some things can be ground wet on lapidary sanders that would get too hot on a KMG.
I use the CZ belts for most things on the Wolf, and yes, it is mainly for minis. I use the diamond belts only occasionally.
Stuller sells the Wolf belt sander and the GRS mounting post. They have just recently discontinued carrying the belts, but those can be ordered from several sources.
I wish you chaps that wanted a nice bench were closer. I have three complete shop packages with bench, buffer, steamer,torches, flexshaft, and every hand tool you could need that I am going to offer for sale.