I'm gona go off the assumption that you intend to use the stock removal method..... if thats so, then buy the absolute best grinder you can, because it is going to be at the very heart of your knifemaking endeavors. Most of us start, or started out in the same situation and mindset as you.....that grinders are terribly expensive..... "There's no way I would ever need, or could afford one of those!"
Generally here's how it happens: An individual will see how much the "top end" grinders cost, and will seek other options. It begins with either trying to build your own, or buying a grinder that is at least somewhat within you're perceived price range, then, finding out that it simply isn't as capable as you'd hoped. Then you get frustrated with it, and look for something "better"......sometimes the story goes through that cycle several times before an individual (if they stick with knifemaking that long) breaks down and buys one of the "top end" grinders. The tough part about the whole experience is that by the time a person decides to buy one of those "top end" grinders, they've already spent enough money to have purchased 2-3 of them. The kicker is that if you purchase something like the Kalamazoo machine, and ever try to sell it, you'll take an awful loss..... where as any of the "top end" grinders will generally sell on the secondary market for nearly as much as you paid for it.
Can you "get by" with the Kalamazoo grinder? .....sure, but you will find yourself frustrated, and fighting it the whole way, and once your at the end or your rope with it, you'll be wishing you had a "better" machine.
I say all of that based on my own experiences, not only personally, but as someone who has been around knifemaking for a number of years..... I've seen the scenario play itself out time and time again.
Personally, I do not like any of the "2 wheel" style grinders......they are extremely limited in their versatility, and in my experience are simply difficult to work on/with. I may very well be jaded because I have 3 different 2x72 machines in my shop, but in the past I have owned 2x48" machines......there is simply no comparison. I easily used twice the number of belts on the 2x48 versus the 2x72 machines to achieve the same amount of work...... and had a much more meager selection of belts to choose from.
OK, all that having been said, it really boils down to you, and the choices you are comfortable with. I don't know your situation, or the amount of resources you have/intend to put into knifemaking, but I can tell you that I have seen many people over the years in similar situations, seeking to buy a grinder. My recommendation is to think it through, ask a LOT of questions, and DO NOT let price alone be your sole guide.
