I have a simple B&Q bench grinder with a pink wheel (and a standard grey wheel) and an older Tormek 2000. I use the bench grinder for my skew chisels and scrapers, and the Tormek for everything else.
The Tormek does give an excellent grind, and removes only little steel (when set up correctly), so you get a lot more mileage out of your tools (in Nick Agar's words: you should sharpen your tools, not shorten them). OTOH, it requires regular dressing of the wheel, and you can't leave the wheel in the water for any length of time, so there is a bit more faffing around involved.
For a pure hobby turner I'd say the Tormek is not worth buying, unless you can get a second hand one. Otherwise you just never get your money back.
The CBN wheels are excellent, but you can end up losing a lot of steel very quickly. If you only turn a few pieces now and then, a setup with a normal (or slow) bench grinder, a decent jig, and a pink or white wheel will definitely do the job.
BTW: why are you doing away with the linisher? This will give you very good results if set up properly.