ASW – Alternative hero leveling.

And the spell levels are different: divine power and righteous wrath. Divine power is learned without knowledge of light.

But what difference does it make? We're not comparing spells right now, but the strength of the perks.
Bestow Grace enhances level 1 spells + situational Dispel.
Righteous Fury enhances level 3 spells + a spell similar to level 3 (haste). +40% to initiative is clearly not worse than +12 to attack. I don't even understand what haste and slow do at level 1 (especially slow).

Haste is easily countered.

The others are also easily countered, except for Stone Skin.

And where is the luck dependency here? Or is it just a static N%? But then how does it differ from regular reflection? In that it only works with positive luck? That means it's useless. It needs to be set to zero and given some kind of effect via script.

There is no luck dependency. Just additional reflection with a customizable percentage. Although I haven't tested the perk, i.e., it's unclear whether it reduces magical damage (magic resistance) or deflects magic. If it's the former, then this perk belongs in the Defense skill, not Luck.

Update: I looked at the skill tree, and it says: damage reduction. So, this is the 4th perk in the line of damage reduction from magic: reflection (15%), magic depletion (20%), undead protection from magic (20%), barbarian luck (customizable %).