Powermatic 60 Jointer

I am considering buying a Model 60 Powermatic 8" Jointer. The SN shows it was made in 66. The beds/fence are flat and in good condition. Most likely I would need to get a new motor for it because I believe it has a three phase motor right now. I've got a line on where I can get a quality 1.5 hp 1 phase motor for approx. $150. The fence and other moving parts are rust free and tight, but move smoothly. I may do bearings now, and a Shelix later. I will have to pay a couple hundred dollars shipping/delivery because I just had back surgery and am on lifting restriction right now. I can get it for $645 at this point and may be able to negotiate a little lower.

Question #1: Do you guys believe this is a good price?

Question #2: Do you this a 1.5 hp motor is enough? I never make heavy cuts while face jointing and don't use extremely hard exotics.

Thanks
Ben

i have the same jointer, bought used about 5 years ago. Love it. Mine is 1.5 hp and seems to be enough with only one belt driving. Took me a full day to get it dialed in (after taking it apart to move it) but its been dead on ever since. I have replaced bearings in cutter head and motor, only have straight blades that I had sharpened. If in good shape, that's a decent buy. I paid 800 for mine but it looked like new, and the guys shop who I bought it from was spotless and neat in all respects. He was the original owner. I know I paid high end but have no regrets. Randy

Ben ,yes and yes. I had a Delta 8'' jointer with a one horse motor and it worked just fine,even face jointing.

1 Hp for 4" Jack made that statement and based on all the jointers ive worked on that is bang on. I had a new Lesson 1.5 HP recommended when I got the 8" General. Anytime I did wider material and I did lots it slowed down and yes the knives were sharp. any really hard woods I could load it up too much. 2 HP while not much more made the difference.

Talking HP as much as 1 HP is supposed to the same no matter what power thats not my experience. I could slow the 3HP General planer down way too much yet the 3Hp on the SCM stuff motors thorough more material easy and even has a faster feed rate so its under more laod. They are both 3 HP yet there was no comparison to what the machines could do.

Thanks guys, the shipping/delivery quote is going to be prohibitive at this point. I'm going to hold off until I heal up and can pick it up myself.