I am new to this board and wanted to pass on a trick I just figured out - it may be old hat to everyone else but it is new to me. If you have the shopsmith dado/moulding head arbor you can put a fine grit grinding stone on it (I am using a 8") and then slow the machine down so you can grind your chisels and whatknots without the worry of over heating. I use the lathe tool rest to hold the chisel and plan to create a cover to slip over it with a stop block setup to maintain an accurate bevel angle.
Anyway if nothing else I learned alot about my Shopsmith today - great postings and thanks for all the info.
Inexpensive Grinding setup
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That dado arbor is pretty useful!
I discovered it fits a cloth buffing wheel just right. Makes restoring that brass hardware in my house a little easier.