Anthony,
Very much the same as Pete does,I also use various diamond flat discs bonded onto an ally carrier wheel and also the cup wheels,but only as Pete says for keening up the cutting edge on HSS and definitely not for hogging or shaping.
You really need a carborundum or green carbide grit wheel for creating the basic tool shape. Also note that a good deal of material can be hogged of quickly with a 115mm grinderette and grinding or ultra thin cutting discs.....OZ.