When you're building a knife there are many different steps involved and grits of belt to use. You coarse grit belts you'll spin really fast (3,000 to 4,000 SFPM - or faster) to get fast cutting. The finer grit belts don't work so well at high speed. For 400 grit you might wish to slow down to 1,000 SFPM (or even less) because the belts will just work so well at high speed. Also, for final bevel grinding you'll want slower speeds for better control. At 4,000 SFPM speeds, any little thing that "off" will make a big huh-oh in the blade, while grinding at slow speeds you might catch it before the huh-oh.
Also, when working wood handles slower speeds are needed - and if you decide to work any mammoth ivory or mother of pearl, you'll want slow speeds.
I spent a yr or so thinking my 3-speed pulley arrangement was just fine, then build a VFD direct drive grinder...... no way I'm going back to a pulley arrangement, not only is it MUCH more useful, it's also much smoother.
Later