Hi Darren
That doesn't look robust enough for the job, ( too much overhang) I like my machine tools to be built like brick sh 1 t houses, if you're really keen on a cutter grinder I'd look for one similar to what Johns got, you don't need anything too posh.
If you want a good book on the subject you can't go far wrong with these books from the Workshop Practice Series:-
1:- Milling a Complete Course ISBN 1-85486-232-4
2:- Tool and Cutter Shapening ISBN 978-1854866-241-9
As I said I've been slowly collecting the bits to make my own cutter grinder, just collected the final bit from Dave Bluechip (great Guy to meet and chat too) but I won't be starting on it yet for some time yet I've one or two other projects to do first

Have fun
Stew