You'll want a verticle disc, and yes, the jig for the pad installation is really great, but you could make your own cheap enough. What it does is to allow you to get the heel shaped to match the top angle, then reset and match the toe angle. Also works good for lengthening a stock with an extra piece of wood between the butt and the pad.
After seeing a pad done with and without the jig, you'd notice the difference.