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In terms of 'will it work', yes, the 2 speed option will work well enough.

The main reason I think varispeed is the best buy (if you can afford it) is that I work on various projects at the same...

Some people make their own belt grinder. I am not one of those people :)
I bought my grinder in germany, simply because of shipping cost. Good grinders weigh a ton, so you have to buy on your own...

Yes and no :)

It will be no problem for the rough phase of the work, hogging out a blade before heat treatment.
But after HT, it's a different story. Especially with higher grit belts where healt...