DIamond is no good for high speed grinding of any steel because the carbon from the diamond is dissolved into the iron in the steel at a temperature of around 150°C so the surface of the diamond is gradually depleted until there's nothing left. A similar chemical reaction happens with CBN (the next hardest thing to diamond) at around 750°C, which isn't normally reached so they last much longer than diamond.
Also bear in mind that CBN wheels should not be used for more than the occasional grinding of high carbon steel tools because the process clogs the wheel so it will require cleaning. Occasional use for HCS is ok because the use for HSS in between will remove the build up of HCS particles.