Taking advantage of a captive audience, awaiting USPS shipment. Better to thwart porch-pirates than more positive measures; legally speaking...
Sanding-wise, I have 3 pedestals carrying discs of 6", 12" & 20", the 6" tied to 2" x 42", the 12" with 6" x 48" belts.
Big discs are it on larger drill bits, belts kick azz shaping. Neither much good on lathe tools, for metal or wood.
It's not just the abrasive, primarily it's form of machine used, e.g. preparing lathe bits. The clearance created by a curved wheel [comparatively large radius] creates minimal contact to workpiece, allows very precise honing, plus simplifies the resharp effort, not having to replicate previous angle.
I'll agree 100% that belts are a huge benefit, somewhat restricted to parts small enough to heft and manipulate. Not lots of shaping going on with portable belts.
Grinding is not sanding. Grinding entails material removal along with exposure of fresh abrasive. Same as chop or hot saws and deburring wheels. Pressure determines consumption of wheel and rate of material removal, evidenced by heat generated.
Sanding removes via 'permanent' grains, material released by coatings on those abrasives. Sanding enables far more aggressive grit size than practical in a bonded wheel of same diameter.
Polishing is a sanding operation, finer abrasives suspended in temperature resistant 'adhesive'. The compound cuts surface and the removed material somewhat burnishes workpiece. After period of use the buff is shagged, removing old compound and recharged, commonly with rouge, aluminum oxide, or emery.
Honing and lapping remove even smaller quantities of workpiece. Honing relates to grinding, where material and abrasive are flushed by a flood of liquid.
Lapping relates to sanding; the abrasive is retained in a material softer than workpiece to act on workpiece. That's why thorough cleaning of a valve seat is required, lapping compound remains embedded after cutting much harder valve face.
Now what, still no packages...