For hollow grinds, a large (16-24"), low/medium speed (400-800RPM) water cooled abrasive wheel would be nice. A 10" bench grinder would be poor.
If you are shop savvy and can weld, building a large wheel wet grinder isn't too difficult. Having a 24"-36" hollow grinding wheel would make most makers green with envy.
Places like HGR sell top grade grinding wheels that would cost thousands for less than the shipping is. I recall a 48" by 4" Norton wheel that sold for $100...it weighed 800 pounds, IIRC.
Belt grinders are expensive, but the quality is worth it. Hollow grinding can be done on wheels from 8-24". 16-18" is a very good size if you can stand the sticker shock.
You can also hollow grind on curved platens that simulate 36-60" wheel diameters. These are great for hollow grinding razors and Japanese knives.