Like you 'preach it', I've sharpened with green wheels for many years (standard Raycos). Over 10 years ago I tried a 'cheap' diamond wheel. It was magnificent for a short while; much quicker, almost infinitely cleaner and cooler. But too soon lost its diamonds, and I went back to green wheels.
I am 2 months into my second go with diamond; and now would never change back. Diamond wheels have definitely come of age. The bonding is greatly improved, and the cost of industrial diamond is much reduced.
I'm sharpening green teeth now, with a similar set up to the photo posted by Xtra on the New Green Teeth thread (2nd post).
Wheel specifications are confusing. I discussed all this at length with a local wheel manufacturer and bought from limited stock what seemed the nearest to my needs. Normally they make to order according to your spec. with a 10 day turn around.
Anyway I have a 7" inch diameter wheel thats 1/2" wide. Its solid aluminum with a 3mm layer of resin/diamond composite on the periphery. It cost about $200. So far I have sharpened/resharpened about 50 green 1100 cutters, with no loss in performance and almost no wear to the wheel, certainly less than 10%.
Given that there is 2-3 times the carbide on a green 1100 compared with 1/2" Raycos that should translate into sharpening at least 1000 of them.
With Raycos I suspect it is wise to grind back the surplus steel on a standard wheel before presenting the the carbide to the diamond wheel.
Metal bonding is said to be stronger than resin and somewhat more expensive. Grit size wants to be towards the most aggressive.
Hope that helps.