A very important word of warning. There is a caveat - as I understand it, at least one company sells a diamond grinding setup that 1) runs slowly enough not to build up a lot of heat, and 2) is water-cooled - and as a result they advertise it for use with steel or carbide.Grinding steel on diamond disks can ruin the disks. Yes, diamonds are the hardest thing but when grinding steel the carbon in the hot diamonds can migrate to the steel and cause many problems which why you should only grind carbide on diamond wheels.
*note that I'm going on the basis of fuzzy memory, so I may not have the details just right ...