As a machinist and owner of a CNC programming business, I deal with SFPM all the time.
pruss is 100% correct and on the money.
Let's see if this makes sense....if your motor is going 3500 RPM, it doesn't matter if the wheel is a 1" diameter, or a 1000" diameter. It is going to revolve 3500 times per minute.
An 8" wheel carrying 3500 RPM is going 7330 SFPM.
A 4" wheel carrying the same 3500 RPM is only going 3665 SFPM.
In order for the 4" wheel to carry the same SFPM as the 8", it would need to spin 7000 RPM.
However, it was stated that 1750 is the perfect RPM for buffing. Assuming that is in reference to a standard 8" wheel, then converting that to SFPM, you get a recommendation of 3665 SFPM. So,by using a 4" wheel on a 3500 RPM grinder, you are achieving the exact SFPM that is recommended.
SFPM is the important factor, NOT RPM, as SFPM maintains a constant removal rate, no matter the diameter. This is why CNC lathes will adjust automatically and spin faster and faster as you cut across a face towards centerline- to maintain SFPM and the material removal rate. Imagine if you were to buff on a 1000" diameter wheel spinning 3500 RPM. It would remove a LOT more material than a 1" wheel spinning at the same speed.