You don't really need a fancy grinder to shape HSS tool bits. I've
used a belt grinder for years for rough-shaping new HSS lathe bits.
After rough shaping, I use a diamond hone plate to put a good finish on
the cutting surfaces.

Don't get me wrong, the tool grinder will do the job for you, but was
probably intended more for sharpening carbide tooling, hence the
silicon carbide wheels supplied with it. You'd probably want to
replace those with aluminum oxide for HSS. You're probably wise to
look for replacement wheels before buying. If it's a standard design,
you should be able to find replacement wheels at most any industrial
supply place. MSC, J&L and McMaster-Carr come to mind for web sites to
look up same.

Grinding belts are a whole lot cheaper, though. My unit is a Delta
1"x42", I've gotten belts as cheap as 98 cents @ off the internet, U.S.
made and long-lasting. A lot easier to change grits with a belt than a
wheel, too, no balancing needed. I use it for a lot of other tasks,
too, the tool grinder is kind of a 1-trick pony that'll just sit there
in-between sharpenings.

On any of Harbor Freight's power tools, I make a point of only buying
from the retail stores. Saves the hassle of shipping back duds.

Stan