Tom,
It sounds like space nor budget is an issue here. My advice is to go for it!
You will enjoy how solid a lathe this is. A quality lathe is like anything else you purchase or use. Quality matters.
(Insert story here) Back in the seventies, I was in a Radio Shack store looking at something and overheard the clerk speaking with a gentleman. The conversation was regarding purchasing a television antenna. The clerk reasoned saying "when you are watching the Super Bowl, this less expensive antenna may give you a fuzzy/snowy picture while this better quality antenna will give you a great picture....."
Same with many other things.....like tools! Buy it once! It will last for decades.
As for the cost, like insurance and taxes....they will not cost less in the future....Buy it now....while the sale is going on.
The Powermatic will also be a lathe you can hand down in the future or should you need to sell, it will sell very quickly.
If you already have a chuck, most likely you can simply purchase a new spindle insert and be good to go.
I do recommend getting some new tool rests. Especially a shorty pen turning rest. (Check out Rick Herrell here on IAP)....again, a high quality product...and you are supporting an IAP vendor.
Please let us know your decision!