I have my disk in the horizontal position, and i wear the "disk apron"...a filthy, muddy apron from grinding on the disk, because i use spraying windex on the paper.
It does keep the piece cool better than grease/oil, and i have less rust issues than with plain water.
I couldn't concieve using higher grits without coolant on the disk, but combining windex (or water) and low rpm yuo can work for a good while before the next spray.