Guess I'm gonna be the odd ball in this thread!!
I would suggest a good 6 by 48 with a 9" disc sander on it. I do all my flat grinding on my 6 by for two reasons. It runs slower than my Wilton and with a 6" wide platen gives me alot more control than on the 2" platent on my Wilton. I tried flat grinding on the Wilton and just ended up with alot of grooves in the blade from it catching the edge.
Also, since most 6 by's come with a disc sander on them, you can use that for shaping the outside curves of the blades and handles and squaring things up and even dovetailing the handles and bolsters. If you get one with a 9" disc, you can save some money by using regular sheet sandpaper and some spray on adhesive.
You'll need to get some sanding drums or something similar to shape and clean up the inside curves, but you're talking 1/4th the investment as opposed to buying a Wilton or other comparable 2 by 72 grinder. I bought mine from harbor frieght for $149 on sale, and even tho I hate buying anything foriegn made, it has performed extremely well, and I have a tendancy to push my tools hard.
The best place I've found to buy sanding belts and sand paper is G.L. Pearce Abrasives. You can find their add in the back of Blade magazine. He sells very good quality alumin oxide belts. The last 6 by 48's I bought were $3.45 or so. He sells 100 count packs of wet dry sandpaper for $25. If you do end up buying anything from harbor frieght, don't waste your money on their belts. They are absolute garbage!
Just wanted to let you know there are alternatives to the $1,000 grinders.
One more thing, even tho they are cheaper, I wouldn't mess with anything smaller than the 6 by. All they'll do is drive you nuts and you'll just replace them anyway. Hope you get into knifemaking! It can be a very satisfying craft and can also drive you flat nuts!!
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Always think of your fellow knife makers as partners in the search for the perfect blade, not as people trying to compete with you and your work!
http://www.nebsnow.com/L6steel
Buzzards gotta eat, same as worms!!!