Note: This is not my original idea--I saw it in a woodworking magazine.
The problem: I need a stationary belt sander.
The bigger problem: Said belt sanders start at ~$400 US.
The solution: A hand-held belt sander and a heavy duty vice.
In a nutshell, invert the sander and clamp it in the vice. Plug it in, turn it on, and sand away to your heart's content!