Nice, I recently (2 weeks ago) bought the multi-tool setup, hooked it up to my 1/2 hp Delta grinder... and now I'm waiting for another paycheck or two to buy the same grinder you have, because the Delta's just not putting out enough torque for me to grind anything on the platen.
Runout on the drive wheel did seem higher than it should have been, but I was using the adapter to neck it down to the smaller arbor size, so that may have contributed in my case... Rotating the drive wheel on the shaft a bit finally sorted it out to the point where it wasn't rubbing, at least.