I got the 5 hp PM2700 and love it.
I use a jig against the fence for copes. I can align the fence to the miter slot, but normally don't bother... I rarely use the miter slot.
The fence adjustment is great. It is easy to offset the fences (like a jointer table) for cutters that remove wood across the entire surface (including the end of the tenon on cope cuts)
Dust collection is good - I only have a 2 hp dust collector sucking at the two ports, so more DC power would probably improve the collection from good to excellent
DRO is right on and VERY useful
The 1 1/4 spindle allows about 6 inches under nut. Powermatic recognized that was pretty high for the connection between the spindle and the machine, so provided an extra rod that screws in from the bottom to stiffen the connection. Not much of a hassle after you have done it a couple times, but a heavier joint between the machine and spindle would have been an easier solution to use. (My MiniMax spindle has a tapered connection over 3 inches tall, compared to the Powermatic about 1 1/2 inches tall.)
Do I need the full 5 hp? Probably not, but I have never been disappointed by too much power, and it is hard to increase if you start too small. I now have six 5 hp motors in my shop.
Sometimes I wish it had more than two speed choices, but it hasn't cramped my style yet. (If I had more choices, I am not sure how often I would actually change the speed!). Since I don't have a separate router table, sometimes I wish I could crank it up to 15,000 rpm or more.
Would I choose that machine again? In a heartbeat. A great investment.