Okay, I got out tonight while it was a little cooler today and did some work on the old grinder. Took both wheels off and turned it on. Spun pretty cleanly as far as I could tell. No vibration or anything. So I checked the shaft diameter and the ID of the grinding wheel. The ID of the grinding wheel was about .006" larger than the shaft. Took a piece of paper and slipped it around the shaft, put the wheel back on and turned it on. Major difference. Still a little vibration, but it only moves some screws around on the table instead of everything else. Even had a little cardboard box on the table and it didn't move.
So then I put my Norton Coolwheel on and it started jumping all over again. Powered down and watched the wheel. There was a lot of sideplay on the wheel itself. Nothing installed wrong, the wheel is just not flat. Put a straight edge on portions of it and it didn't seem all that bad, but I couldn't put it straight across the middle due to the little paper they put on each side. Tried the paper on the shaft trick again and that didn't help either. I'm not too impressed with the plastic inserts they give you to compensate for the size of your drive shaft.
I didn't try rotating the wheel by any increments and I guess I still need to try that. But will the Oneway system fix this problem, or are there bigger problems with my wheel not turning flat? The other side has a little side to side play, but nowhere near what the Norton stone has. Guess I could try the Norton wheel on that side, see if it's my shaft or the wheel. Thanks for any help with this!