Fulmaduro...You will do yourself a huge favor to get into the 2x72 format.
I am not sure of the evolution, but the entire knifemaking trade uses the 2x72 format, and the belt mfrs have ensured that the available grits are more often available for that format. because of the larger belt size, the belts last much longer than the 1x42 format, and the versatility is much better suited to making knives.
Your choice of the 1.5 hp Baldor @1725 is an excellent choice, and should not be a problem to operate with a step pulley system. Since you already have the motor, I would probably opt for the Coote.
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