It would help if you gave a synopses of both alleged positions.
As far as I am concerned the difference is merely that of a different emphasis on words.
I don't see them as two separate positions. What we need to do is to see what the Bible actually says about being saved by grace.
"For by grace we are saved through faith, not of ourselves; it is the gift of God'; not of works lest any should boast" (Ephesians 2:8-9).
We are saved by grace, but it is through our faith in the finished work of Christ on the Cross and the free gift of Christ's righteousness.
"He was made sin for us, that we may become the righteousness of God in Christ" (2 Corinthians 5:21).
God's grace is only extended toward those who have put their faith in what Christ did for them on the Cross; in other words, grace is inseparately linked with Christ. There is no grace for anyone outside of Christ.
Also, being saved by grace does not mean that one can freely go on sinning. John Calvin said that there were those in his time who were viciously slandering him by accusing him of teaching that being saved by grace is a licence to freely and wilfully sin.
Therefore, my position is that God's grace and the free gift of the righteousness of Christ are inseparately linked and one cannot have a position on one and not the other. There is no grace without the righteousness of Christ. It's like having a motor car without an engine.