an 8" jointer is a nice size if you can only have one. The Grizzly is not a bad jointer. (had one once, and it was ok) I sort of remember it being about 1 1/2 hp, or maybe 2, and at that, at 110, I would wonder a bit. If you can get 220 out there, it would be better. Yes, the price is a bit high, probably about $100 or more than you could hope for. If you wait. But it is not crazy high, if in good shape. Is the switch on it currently a "magnetic switch", (correct name is contactor, or starter). If it is NOT such, you might not have to replace the switch. just rewire it. Only reason then to replace is if the wire / switch couldn't handle the increased amperage.