The large machine (Paulimot) is a better value in my opinion, based on a quick review of the specs. The gear box is not a negative but rather a positive. It allows the motor to develop full power and convert that into rpm or torque. The VFD can alter the speed but it will only generate the same torque at low speed as it does at high speed - this is a big limitation for a lathe in my opinion. Turning a large diameter item requires lower speed but high torque that the VFD will not provide. Lastly - you can always change the motor in the future and add a VFD but you can't really add a gearbox...
The max rpm should not be a concern either in a non production environment and unless you are turning really small parts all the time it won't matter.
Lastly the spindle nose on the Paulimot appears to be better in that it is a standard cam lock style making chuck changes easy, not to mention easy to source alternate chucks. The Bernardo has some sort of bolt on which gets old if you want to switch between chucks frequently.
Mike