What sort of electrical choices do you have? The Grizz and PM are 220, so you may need to at least rewire for them (I paid $50+ for a 25' roll of 10-3 armored cable at Home Despot recently for my rewire job.) This one says it's 110 single phase, so you can run it right out of a 20 amp circuit in the garage if that's all you've got.
I think the round column will be an annoyance over time, but if it gets you up and running quickly, so much the better. Plus it lets you really figure out what you want to buy eventually as your 'forever' machine and won't break the bank when you sell it later. You might even be able to strip the dro, power feed (if they work on the next machine) and keep the tooling, and still a decent part of your $1,500 back.
I agree about the platform it's on - you'll want to improve that for stability and height.
-Ryan
Edited: I didn't note the Grizz came with a vfd.