Well, I cheat, I have a 1 1/2 hp belt sander with a 36 grit belt. Still, some times I will take an angle grinder and a cut off wheel if I am taking a square blank and turning it into a 1/4 round nose swept back scraper. They will go through M42 fairly quickly. Most saw sharpening services will have very coarse grit wheels and belts for major reshaping, which would be handy for several tools at once, then all you have to do is touch it up. If you saved some of the wheels that came with your grinder or grinders, some times they are in the 36 to 60 grit range.
robo hippy