One more comment about a grinder versus a belt sander:
There are things to do with tool bits that a belt sander won't do well, or at all. But they might not be things that a hobbyist does often, if ever.ardeb?
Garden variety tool geometry can be done nicely with a sander, although I think back rake might be a stretch for a sander as you have to work at the edge and off the edge.
And you cannot put a chip breaker feature in with a sander, I don't think.? (A plan "B" could me to use a hand motor tool with a grinding wheel in it.)
And if you need a grooving tool, often done by removing a lot of material for a short distance down one side leaving a cutoff tool-like feature at a specified width, I would certainly want a grinder.
Charles E. "Chuck" Kinzer