I Passed on the Powermatic planer and opted for a Woodmaster 718. It's not only a planer but has the ability to make molding as well. Has a 5 hp motor to run the planer/molding knives and another 1hp motor that powers two rollers that feed the material through the planer. New they are about $3,300, more if you add in what they call the "Power Pack" which consists of gang rip saws, drum sanding kit, and an accessory shaft which can be loaded up with molding knives for quickly changing from planer mode to molding mode.
I found a used Woodmaster 718 on eBay for $2,200. Had the Power Pack included as well as a bunch of extra knives and accessories. Had to drive 500 miles to pick it up and another 500 miles to bring it back home, but it was worth the drive for the money saved.
Read the book, wired it up and ran my first piece of 1X6 through it last night. There was already a molder knife attached so I just used what was in it. A very simple piece of 1X6 went in one side and a really cool piece of 1X6 baseboard came out the other! I was elated!
On an aside, I cut 8 more 6X6X12 pine beams for my (soon to be) sawmill shed. Also got a bunch of 1X12X12 boards which are absolutely beautiful. Was kind of weird because in the middle of the log I ran into a bunch of “lighter”. I always assumed that “lighter” came from a tree that had died and was seasoning over time. Turns out it exists inside of a live tree. It’s hell on the blade though!
Had my very first customer come by and pick up some 4X4s. Not a big sale but now he’s a customer and will order more in the future. Gotta start somewhere, right?
and you are going to have a ton of fun!
Yeah, I'm jealous. 
