Yes. I don't work too much on stainless, so I never really thought about it. I know all about carbon steel brushes, and have seen how they can start corrosion. All of my brushes are stainless now, but I keep them marked; some for steel or whatever, some for stainless only, some for aluminum only.
I'll just have to remember that silicon carbide on stainless is a no-no now.
I love zirconia, but I've only seen it in belts and flap wheels (although google tells me that some cutoff wheels do indeed use it). It WAY outlasts alumina or silicon carbide, staying sharp much longer as well. The increase in lifetime is several times the increase in cost.
Still, a cloth backed abrasive works very differently than a wheel. With a belt, you're relying on the outer layer to be frangible (rather than friable), and fracture to keep a toothy surface.
My favorite cutoff wheels from Metabo are aluminum oxide, but unlike a belt, a good grinding wheel will shed whole particles from its outer layer to expose fresh abrasive underneath (if a belt did that, you'd be left with nothing but cloth in just a few seconds). I guess in that scenario, it is how the adhesive allows grit to be expelled, that prevents a wheel from glazing, and while a franging abrasive might help, the wheel's ability to lose diameter is how it really stay's aggressive.