Depends on what you want to do. If money wasn't a problem, and you were not planning on cutting up large pipe and 6" round stock for propeller shafts, a vertical horizontal isn't needed. A vertical only table type, metal only or metal/wood, band saw with multiple speeds is a really nice shop tool. They only have a 2X2' footprint and can be mounted on a roller base.They are expensive, though.
The best solution is to get a good deal on a vertical/horizontal unit and take it off the base. Throw away the vise and base, or repurpose it for something else. Use only the cutting arm in a vertical position setup on a table of the end of the workbench. Mount the motor behind it and connect with a suitable length V-belt. Make a large and sturdy cutting table from plywood or steel to replace the flimsy small table that came with the saw.
A 4X6" V/H saw is simple to convert to a vertical only bench mount unit, and will do profile cutting and cut-off on most any bars of steel. You may have to do some multiple cuts to get around the upright spine of the machine, but that isn't too much trouble. They do have a bad habit of the blades popping off the wheels, but most of us just live with that.
A 7X12" V/H reworked into a vertical only bench mount unit will allow a much easier profiling and less blade popping off the wheels (wider and heavier blade and more tension). A good Lennox blade and one of these big boys will do most any knife profiling you want. A bonus is that it comes with a coolant pump. You don't really need it for knife profiling and bar cutting, but if you want to, you can easily build the system into a vertical only setup by installing the unit in a shallow pan. The ones for installing a water heater in will be perfect, as they already have a return drain line.
Another really good upgrade for any metal cutting bandsaw is to change the motor to a 1HP 3Ph unit and run it with a VFD. These size motors and controllers are cheap. That will allow you to dial up any desired speed from very slow to ripping fast. No need to change the belt position, just turn the dial.