Your mention of a BaderIII of a choice is an excellent one. The Bader is a fine machine.
Only problem is that for the $1500 that you have you can't get what you want.
The BIII with a 1HP variable cost $1460 plus shipping, with a 1/12HP variable $1490 plus shipping. If you are spending that much money on a top quality grinder, then you would definitely want to go all the way and get the 2HP variable at a cost of $1715 plus shipping.
The 2HP on my BII is an ANIMAL. It will never bind up and will rip your arm out of it's socket before it will stop turning (just to give you an idea of the power
).
These costs include a 8" contact wheel, fork arm with 1 wheel, and drive pulleys. You still have to consider costs of a platen for flat grinding (if needed), work rests, other size contact wheels, 2x72 belts, etc.
A guy I know just got a BIII, and set up with a bunch of needed extras it cost over 2K.
Sorry if I scared ya', but I figured it would be better to find out ahead of time.
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C.O.'s-"It takes balls to work behind the walls "