JT I'm going to build a press once I move into my new place and get settled in. While I admit I don't have all the mechanics down, I have put some time into the logistics of it. While I have used a press and know some folks that have them, most of my thinking is derived from that thread you are talking about that Larry posted before his shop burnt down.
To me everything he states in that thread makes perfect sense. Speed is greater than tonnage. Both are important but I look at it like this; a press is just two big quench plates stealing your heat. So if I had to favor only one it would be speed. There have been similar threads posted on here as well.
My plan sounds similar to yours.
Important bits:
5HP (Preferably 10) Single Phase
Minimum of 3IPS
Single Stage Pump
Large Reservoir
Steel Clad Hoses
Pressure Relief Valve
I'm going to buy Dr. Batson's book and a motor first. I'll then plug in the numbers based on the biggest single phase motor I can get and start calculating and picking up the rest of the gear. I'm going to do a little more poking around but right now I'm set on a beefed up C frame.
As far as dual motors, 50+ Tons, etc... I think there is a point where your ROI makes it impractical to go with too much overkill. If you look at the big damascus makers I'm aware of, based on shop tours and photos and what not, they don't seem to invest their tool budget in giant presses, from what i can tell they invest it all in sexy Nazel's!
Ill start a thread once I get into my place and get some free time. Probably late next month. Until then I will be following you all and see how yours turn out!
-Clint