What colour is that wheel ? The reason I ask is because wheels for woodwork tools are usually white,and slow running,sometimes water cooled.
Now,I have a drill sharpening kit made by Markel,which comes with two grinding wheels,one white,the other,green. The white one does a great job on HSS Drills,in no time flat. The green wheel is for masonry drills [works OK on HSS as well ]. My unit is not suitable for tool sharpening,but a similar wheel might be if mounted on a bench grinder.
Might be worth a try.
PS My unit is driven by a hand drill [dont laugh ] so the speed is about 2500,perhaps around the same as a bench grinder?,and has recovered many,many drills for me,since my free hand attempts are best forgotten.