Jim, you big scaredy cat!
Randal, a CBN wheel performs much the same duties as a regular dry grinding wheel, but it's faster cutting, and MUCH better balanced, making it a lot smoother and easier to control the grind. Also, it remains a consistent diameter and doesn't get grooves in it. I've got a pair of fancy Oneway wheels and balancing kits on my dry grinder (also use a Tormek), but the CBN wheels I've used on other guys' grinders put my dry grinding setup to shame. I'll be getting a CBN wheel once I get my shop setback up.