FRETS.COM
Shop Tip #372
© Frank Ford 2006; Photo by FF

I don't know about you, but I have a couple of really fine electric pencil sharpeners in my shop. Pretty much any sander with any old belt or disk will do a better job of sharpening a pencil than one of those wall mounted grinders.  Just spin the pencil as you hold it at your desired angle against the sander.