Pretty much all high speed grinders have somewhat same drawbacks:
* Belt grinder/sander/linishers are pretty good in material removal, but throw a lot of particles around. Even decent size (about two meter belt length, 50 mm wide, about 1-2 kW) will litter least 2-4 m2 area pretty quickly. And good dust collection is hard to make. Check any professional model. BUT they are very efficient for shaping, breaking the edge, "prettyfying".
* Hign speed grinder stones will break. Eventually. Guarding is a must. Diamond or such discs do not shatter and work pretty well on sharpening but are not that good/economical for weld preparation and real shaping.
* And all are fire hazzard. They produce sparks and more efficient they are, more heat they will generate. There are some spark arrestor/suction units that can alleviate this problem. Least you need to stay on fire wach for least one hour after grinding.....although not much of a problem if you grind first and then work....and keeping all compustible material out of grinder quarters is a good idea. I know a person tha had a book case one metre away from the bench grinder and when he left garage, turnet lights out and had a cursory look inside was wondering what is that firefly there....it turned out be a reflection of charred catalog that was about to burst in flames, he took it outside and it started burning.
Slow speed "lapping machine" does not produce much heat and is very good for touch up of the cutting tool, but not really that productive on shaping or any coarse work.
Many years I had a double ended grinder mounted on hefty pinth and took it always outside of the garage ans shaped tools outside. Then I made some slow speed lapping grinders that work many tools but in the end I switched over insert carbide insers and started collecting dull HSS/carbide drills/endmills for "maybe one day box".
I bought "best" cheap drill doctor, but it turned out to be a disapointment. I get what it suposed to do, and it does sharpens standard helix drills, but not nearby orginal shape. Bit more advances helix angle or core shape and it does not work.
So, answer might be as complicated as need or resources are.