This is another, "it'd be better if I had a crystal ball", case. In other words, how confident you are that you will be getting into turning and are there other uses you will have for a good grinder.
If minimum expense is your primary goal then option 1.
If you want to get a good grinder setup for turning and whatever else then option 2. If you are getting the Wolverine now then there is a little benefit in setting it up with a permanent grinder - the Rikon.
From what I see, the LV Rikon offering is a 1 HP, 8", low-speed grinder that takes 1" wide wheels. It also comes with Aluminum oxide wheels rather than carborundum which is better for tool sharpening. This is a good grinder for using with CBN wheels because it is 1 HP. Steel CBN wheels are heavy and need good starting torque ideally - not totally necessary because if needed you can give them a little spin by hand when starting. My 1/2HP labors on startup with just 1 CBN wheel so that's what I do just to make life easy for the machine.
If I may say so, there is no need at your stage to jump to CBN. All sharpening is just the removal of metal and anything that does that will sharpen - even the much maligned gray carborundum wheels. A nice wheel, IMO, is the Norton Blue for turning tools - it wears well and runs cool and is a lot cheaper than a CBN wheel.