Arvid, stick with the 220 grit wheel and go at it gently. It will chew up a carbide bit in a heartbeat if you aren't careful. It does give a decent edge, but it also leaves some grinding marks in the surface.
I recently made myself a lapping machine which consists of a 1/4 hp motor and a cast iron disk/wheel that I charge with some 10 micron diamond paste. It polishes the surface to a mirror finish with a razor sharp edge after the cutter comes off of the carbide grinder. That works well for very fine light cuts, but will chip or break on any substantial depth of cut. At least that's been my experience so far.
p.s.
Carbide ONLY on the diamond wheel. If you want to grind HSS as well, get a white wheel for the other side.
I recently made myself a lapping machine which consists of a 1/4 hp motor and a cast iron disk/wheel that I charge with some 10 micron diamond paste. It polishes the surface to a mirror finish with a razor sharp edge after the cutter comes off of the carbide grinder. That works well for very fine light cuts, but will chip or break on any substantial depth of cut. At least that's been my experience so far.
p.s.
Carbide ONLY on the diamond wheel. If you want to grind HSS as well, get a white wheel for the other side.
Willie