Always wanted an old treadle powered stone wheel… most of them came out of Ohio, from the big sandstone quarries there. The really good ones were big money… I’m sooo jealous you scored one for cheap! Most times these days, folks buy them for DECORATION in their front yard! Boooo… I saw a really nice old stone half buried and sticking out of some guy’s front yard not long ago… thing had to be more than 3 feet across.
Sharpening stuff means friction. Friction means heat. Enough heat, and you’ll kill the temper of the steel (meaning it will turn into peanut butter when it cools down) I’ve seen some wheels with a water bath underneath the stone, which will work just dandy. Go slow, use plenty of water and you’ll be fine.
The wicked flee when none pursueth..." - Proverbs 28:1