"Gloves" - Leather ONLY! and ONLY on the fine wheels... (One of the few places where I'd risk any glove and power tool...)
I hear what you're saying, and agree somewhat, but for someone who doesn't know what they're going I need to strongly say NO GLOVES.
If you're doing the hold the part in the vise and work around it with a wire wheel in a handheld tool, then yeah gloves are fine.
If you're holding the part against the wire wheel in a grinder, no gloves! This is the easiest way to have a finger ripped off. The reason I agree with you at all, is that with a leather glove, the glove is more likely to rip off with the finger than wind your arm around the machine and pull your face into the wheel. This is not at all uncommon with cloth gloves.
But, saying all that, I've been wire wheeling on a bench grinder all my life, and I never use gloves. If you get the feel for it, you don't throw parts, and you don't wheel off your skin. I'll routinely wheel 1/2" long 1/4-20 bolts. No pliers necessary, although I sometimes reach for vise grips when the part gets too hot.
The truth is, this is a VERY useful skill. Practice a lot, and eventually you get in the proper habits of holding the part so it doesn't get thrown.
BTW, you learn a lot faster when you're buffing irreplaceable brass gears from an antique clock with rouge on an open muslin buff (which is MUCH more likely to grab and toss parts than any wire wheel).
Why learn the improper habits of clamping parts in ways that leave permanent marks (vise grips)?
Oh, and did you seriously say 1/4 HP? Dang, that's really not putting up a fight. Figure out what you're doing wrong, and you should be able to wheel a part between held your knuckles on such a small motor.
I've got a friend with a 2HP grinder (ok that thing scares me), but anything less than 1/3HP and I don't think I could get anything done. Most of my wheels are on 1/2 or 2/3HP motors (with a few on 1/3).
First tip:
Be gentle. More pressure on a wire wheel will cause the wires to bend. Then they just kind of drag along the surface, but it is the impact of the wire with the surface that does the work. Push too hard, and you actually slow down the cleaning action, wear out the wheel faster, and make it more likely to grab. This is completely the opposite of how a grinder works. With a grinder, you can keep pushing until the machine starts to slow down. With a wire wheel, you need to pay attention to the shape the wheel takes when it wraps around your part. If the wheel is starting to slow down, you're pushing WAY to hard.