Chainsaw Repair

When My friend sold me his Husky 298XP he threw in his (inherited) dad's old saw chain grinder as part of the deal. $200 for the pair. He never bothered to set it up and get it going. The 298XP...well he never ran it after the day he bought it 15 years ago.
I think the grinder was the better part of the deal...the saw I find was not a cream puff by looks of the piston.

I have found so little info and references to other peerless machines, so far only 3 others on the internet and 2 were equipment auctions sold in the last couple years .  Yet I am very impressed by this grinder. Which is the most complete and looks like it may function once I clean it all up. I has nice castings and would appear to be a real nice machine in its day. You can find a few references to it in 1959 Popular Mechanics magazines. The electric motor has a number on it, 7008 that may mean 1970, week08  as the build date.

I was very pleasantly surprised to find this machine referenced in a patent which described in detail the how and why this machine operates. You can see a picture here......
http://www.freepatentsonline.com/3071026.pdf

I found some grinding wheels 3/16"(3/8", .404") and 1/8" (1/4",  .325", and 3/8"LP) At sharpchain.com which called out the correct 3/4' arbor stones. The old one was a type 12 dished pink wheel on an adaptor bush, to make the 1-1/4" arbor pink wheel work. I don't really see how he got it to work that way???

Any one else heard of these?