Okay I have some results.
Preamble
The grinder comes with a 13mm hose nipple. My setup uses the 8mm standard. Fortunately I had a spare fitting.
I have an existing air compressor which can deliver up to ~150PSI at a reasonable flow rate.
There is a micro oiling in the kit which I used a light grade sowing machine oil in. I "hope" its working. There isn't an easy way to tell. These micro oilers are supposed to be able to last ~4 days of use before needing to be topped up again.
I made sure I used some safety gear (for a change), especially before making dust with the PCB since its FR4.


The Test
I used a 30 degree V engraving bit.
Set the compressor at 90 PSI and let it build up pressure.
[1] For the first test I used a bit of MDF I had about. Turning the air flow up to max on the grinder and it was spinning live a dervish.
Observations:
- its turning FAST
- handle is cool, not feeling any heat
- very small vibration feeling through the handle but nothing that would be an issue once clamped in a mount
- psi on the compressor gauge drops to ~70 psi under full load. This reflects the level of air being let through. It also might be an indicator that my DIY grade compressor isn't enough to supply the full 90psi continuously?
- started hand cut on the mdf. "Hot knife through butter" would be a very good description.

[2] For the PCB test I secured the board, sprayed a little water on it (just to reduce dust since I didn't have a handy vacuum) and started engraving.
Observations:
- same as for MDF test. "Hot knife through butter". No issue at all in cutting into the pcb blank. I could have very easily used the grinder and V bit to completely cut through the entire PCB board.
- no detectable load on the tool while etching out my initials


All in all I think pretty successful. The next challenge will be on the air source front. I have a reasonable sized compressor, hobby grade, but definitely a class above the 12v tire pumping ones that are available. I think the next test needs to be using one of those style air supplies. Many of them are rates to 150ps but no idea if they can be limited to a lower value. The other angle will be the consistency of the air supply. My compressor is designed to give a constant flow without pulses. These tyre style ones might be inclined to pulse the air flow which might not be good for the grinder? Or for the usage we are looking to put it to?
Anyway, hope the data points supplied are of assistance. Happy to answer any questions if I can.