I have a 2"X72" coote with a 10" wheel on it, and I'd say its about the best money I've spent for my shop so far. Very nice machine, not just for the money, but a nice machine.
I have mine set up with step pullies, also bought from norm. And I welded up a hinged motor mount out of some angle iron so that all I have to do to change speeds is lift the motor up and move the belt over. No tensioners to adjust, no tools or anything to worry about.
I went with a 1-1/2 HP Dayton,1725 rpm, high torque, capacitor start, farm duty motor. Totally enclosed and fan cooled of course. This thing is a beast, you can't bog it down, and it was less than $150 new from graingers.
I'd have really liked to get a KMG, but the basic platen model cost as much without a motor, as I have spent total on my coote. And I like to hollow grind so I'd have had more expense in getting a wheel set up for the KMG. Now don't take this the wrong way, I'm not knocking the KMG or saying its overpriced, I'm just trying to illustrate what a value the coote is, giving you the ability to hollow grind or flat grind at this price point. For someone on a budget, this is probably the best deal you'll find.