Tom, I still use my high speed grinder for the reasons you state. I get a little OCD with this kind of thing, so as they say, your milage may vary...
The wheel, hub and shaft get marked with a sharpie to keep that part of the equation constant. The side to side wobble is taken out first. Masking tape shims between the hub and the wheel (not between hub and shaft face) on the motor side. This is a pain. it means marking the high wobble on the outside edge (not the face), taking the wheel off the shaft, loosening the hub, inserting a piece of tape 180° from the outside mark and repeating till satisfied. The grinder does not need to be turned on during this process, just rotated by hand to mark the high spot (outside). The hub should be tight but not vice and a pipe wrench tight. With the wobble fixed, the face is trued, I like Don Geiger's wheel dresser as it rides on the edge of the platform keeping the wheel concentric. (
https://www.geigerssolutions.com/Tru-N-Dress-Models.html ) Once the wheel is trued, the balancing begins. By the time I bought my slow speed grinder, I had lost the original OneWay balancer and so bought the one that uses the bearings. The grease in the bearings caused too much resistance so I cleaned that out with thinner and compressed air. Balancing was still fiddly, but much better/easier with no grease. Two things that helped the most was the wheel dresser and cleaning out the grease. I've never bought a wheel that didn't need some help, altho some were better than others. A smooth running grinder is a good thing...
For those not familiar, the OneWay balancing system uses a two part hub that screws together sandwiching the wheel in-between taking the place of the normal two washer system. Balancing is accomplished with two positionable counter weights on the hub with the wheel hanging on some grease filled bearings. Heavy settles to the bottom, weights adjusted, wash rinse repeat...