The first thing I would recommend on a lathe is true variable speed. This is vastly superior to the Reeves drive (a pulley that changes sizes within preset speeds) or changing belts on the pulleys, no matter how many pulleys there are. This is more important if you are turning larger bowls, in green wood, and the pieces are unbalanced. I do find the dial a speed (Jet, PM, Robust) better than the preset speeds and slow ramp up/down (Nova DVR) for my turning, but both work.
The other option I would look for is either a pivoting head, or a sliding headstock. I prefer the sliding headstock because that is what I have been using for the last 10 years, and the first pivoting headstocks had some alignment problems which are pretty much gone now. The biggest thing this does is to keep you from having to lean over the bed to turn bowls. A huge back saver. Both can turn over sized bowls, but bowls over 16 inch diameter really don't sell as well as they are more of a specialized item. Also, if you get into turning bowls, the only coring system that will work when the headstock is pivoted is the McNaughton, which for me is fine as that is the one I prefer. The Oneway and Woodcut won't work on them.
You really do get a significant power boost when you use 220. If you are using a 1.5 hp motor, you need a dedicated 20 amp circuit.
This would leave the Jet 1642 and the Nova DVR as the two best in this area and price range.
Do try to find the nearest club and join. You can often find used equipment before it gets to Craigs list or E-bay.
robo hippy