Tell you what I would do. If I was going to use the grinder only for lathe tools, I would consider CBN wheels. Of course, they're expensive. If I was going to use abrasive wheels then I would contact Norton and ask them what wheels they would recommend. I mean, they make em', right? They should know. Wheels are more fragile than most of us think and when we go putting out body weight behind a tool to get it to cut then we are subjecting that wheel to more force than it was intended to take. Better to get the right wheel material in the right grit for the purpose - Norton will know.
On the other hand, a belt sander cuts cooler, faster and flatter. Belts are cheap, do not require dressing and do not blow up (but they can snap if they're old). It takes seconds to change belt grits and you're back to grinding and you can take a tool from shaping to a near mirror finish in under 15 minutes without significantly changing it's shape.
I have ground tools for well over 25 years, on bench grinders and belt sanders. While I am definitely in the minority among hobby guys, I much prefer a belt sander for tool grinding.