I use a Griz wet grinder with rock wheel, no experience with diamond wheels, but… considering this from a theoretical perspective, ie edges break down due to micro fracture at the edge. More, shallower scratches wear longer than larger, deep scratches. I have found this to be very true with hand tools (planes and chisels), highly polished edges (and not from stropping a low grit edge) last substantially longer.
The jury is still out for me for turning tools, mainly gouges. Its more difficult to get the “side by side comparison” as I could with hand tools, due to the variable in the wood I turn vs flat work with hand tools. I have done some testing, and polished edges cut better for a short time, as in a minute maybe, then seem to be equal to lower grit. Generally not worth the time for me to do, but that would not be the case with a 1200 gr wheel - will take longer to remove metal, but 2 passes vs 4 is not a problem. I typically grade the stone with the 1000gr side of the Tormek stone grader, supposedly equal to 1000 grit diamond, but I dont know that for a fact.
The fact you have bench grinders to take care of edges that need it makes me think the 1200 would be worth trying, but its just an opinion.