I'm with Karl here -- I can't think of the downside to a more powerful motor. I had a 5hp Powermatic and traded up to a 5kW (almost 7 hp) 12" Ulmia and loved it. There are times when you might be cutting 16/4 material and can use all the power you can get.
Whether or not it's worth $600 to you, I can't answer, and I'm also not saying that 3-5 hp would be inadequate for your needs.