Grinding spindles run typically at several thousand rpm. For example, my bench grinder with 150 mm wheels operates at 3000rpm. My Quorn T&C grinder, with 100 mm max. wheels is ~4800 rpm.
I don't think that your spindle could achieve anywhere near those figures. If a grinding wheel is operated too slowly, it cuts "soft", with relatively rapid wear and consequent loss of shape. 1500 surface m/minute would be reasonable for tool grinding.
Also, a sewing machine motor is not the best for a grinding spindle. It's probably a brush type universal motor for which the speed is poorly regulated and very load dependant, at worst the wheel could overspeed. An induction motor, with a flat speed/load characteristic is commonly used.
Clive