Imho it will be a good step ahead. I have not used it, but am quite experienced with grinders.
You'll get approx 50% more torque from the engine alone, plus one belt station less, which could yield up to another 5%. The biggest plus is non existing hydro pump, which generally draws a few percent even when idle and on those small grinders it takes 2-4HP when you push the rams hard. Here you pay your mini for doing that work. When driving and using the rams, up to 18ft/lbs of torque are consumed, a good amount which is useful for the grinding head.
In addition that 38 special goes much deeper than any other grinder in that performance range.
If it was available in my country I would not hesitate, eventhough I have 6 grinders already.
Only drawback would be the fuel consumption, which is horrible on those big blocks when your used to diesels. Here we're at 7.50$ per galon.