I bought mine decades ago, but I was always told 1750 RPM was better for buffing. The HF buffers I see on the website are 3500 RPM.  Rockler woodworking has a Rikon 1750 8" for $220. 

 Mine is a Baldor and it's been great, but I've had it over 30 years and don't remember where I got it or how much it cost. 

I also have a Baldor with 8 inch wheels and it has been working for almost 20 years.

Things to consider when setting up a buffer include size and type of wheel and number of stages you plan to buff.
Sewn wheels are a more aggressive buf than loose wheels and rougue comes in a variety of colors and abrasive quality. Keeping the wheels separaterated by color of rougue may or may not seems important to you, but some folks keep two primary wheels for their two most commonly used rouges and change out when they want a higher polish. Natural materials such as raw wood, ivory and antler can get rouge imbedded into them and change rouge color. So, you might want a buffing wheel dedicated to using wax for those materials. Some folks just have multiple buffers.

At the risk of being dramatic, SPEED KILLS!  At least when it comes to the speed of a buffer in the knife shop.  I've had at least one knifemaking friend killed, and several others injured due to using "high speed" buffers.

 With that being said, look for something that DOES NOT EXCEED 1800 RPM.  The rub is that 1800 or less RPM buffers tend to be significantly more expensive than slower ones.   Why?  Because manufacturers know slower buffers are safer, and many industries are forced to purchase slower speed machines to meet "safety standards"...so they make more money.   Also, when it comes to applications, slower buffers do a better job of "buffing" versus faster ones. Faster buffers will "burn" and/or "orange peel" work, whereas a slower buffer will not.   

  The biggest issue with buffers is that many try to use them incorrectly.  How?  They try to use a buffer as a "shortcut", and try to use it to remove scratches.  If you try to do that, all you get are buffed-over scratches that look very amateur and terrible.  You still have to put in the work in terms of grinding and/or hand finishing.  A buffer enhances your work....it doesn't make it easier or less labor intensive.

  In terms of who makes "the best" buffing machines... I don't think anyone would argue that it's Baldor.  Not to say that there are no other buffing machines that are good....but overall none of them beat the build quality of a Baldor...and very often the prices reflect that.   I have two buffers in the shops...one is a 3/4hp Baldor that I've had for decades and a JET 1hp machine.  The Baldor is 1800rpm, and the JET is 1750.

 Learning just how to use a buffer is akin to learning to grind... it takes time and effort.  Included in that learning curve is the type of buffing wheels to use, and what buffing compounds to use with what wheels!  🙂        

Yep - they can be dangerous.

One thing I have come close to - but never doing - is to get a 3 phase motor and little variable frequency drive and build a variable speed buffer. It could be done right at or less than commercial buffers. Just shop around.

I have noticed, from time to time, that after buffing a handle that has had some finish added to it, that they often feel a little gummy. It dawned on me that the friction from a fast wheel was melting the finish. I ended up getting a mandrel to fit my 12 inch lathe and slowed the wheels was down. It totally solved that problem.

And building your own equipment is character improvement.

Thanks for posting this. I am actually hoping to buy a buffer in the next couple of months to replace my Dremel buffing wheels...for very carefully bringing out more in a hamon. 

 However, also remember with power tools, you get what you pay for. as an example (it's not a buffer) It is why I bought a Tormek T-4 – Compact Water Cooled Sharpening System over a cheaper Wen Clone. (I learned that the hard way after spending a month trying to get a Wen bandsaw to cut strait and had parts fall off...thank god i had an Amazon 90-day warranty and was able to get my money back)

Karl B Andersen, 

We have been looking at these and trying to assess what is within the price range, and also a good purchase. I see Mr. Ed Caffrey prefers Baldor, and their price range is about $1500 to $3500. We just purchased a Paragon Kiln, Beaumont Disc Grinder, and were hoping to purchase something in around the $500 range for a new buffer. Based on the above recommendations We were looking at the JET buffers. The 1800 RPM's are on backorder, but they do have a variable 8" from JET that is listed here that we could purchase. Do you or anyone have knowledge of these? Are they meeting the recommendations?

JET 578218 IBG-8VSB 8" VARIABLE SPEED 115V/230V

https://www.jbtools.com/jet-578218-ibg-8vsb-8-variable-speed-115v-230v-industrial-bench-buffer/?wi=off&gad_source=1&gclid=CjwKCAjw48-vBhBbEiwAzqrZVO5WVbvBe-ZX-9aA_vXgyzIObiahbFKgPXx6MEYbhzs50YldsEvzvhoCetkQAvD_BwE