One thing I find belts essential for is repairs, especially fixing broken tips. I personally think any grinder that runs at over 2,000 rpm is inappropriate for sharpening- there's just too much potential for overheating the blade. I have used a 3,500 rpm HP grinder but it requires a very light touch and you have to know what you're doing. Under $400 I think the Kalamazoo is the way to go.

Of course, the EP is ideal. I have an EP Professional model and sixty or so custom stones. Definitely nice!
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“I'd rather have questions that cannot be answered than answers that can't be questioned.” —Richard Feynman