Pump Selection Help

Hey guys. My pump went out on me today, so I was hoping for some help selecting a new one. My pool is a rectangular 16000 gallon with 1.5 in piping in and out. The pump that just burnt out was a ST1102 1HP with a S.F. of 1.5. I have a 220T sand filter and a SWG I installed a couple years ago. The pool sits approximately 30-40 feet from the pump at the same elevation.

Everything I've read seems to lead me towards a 3/4HP pump, but it doesn't feel right cutting my pump in half. Ideally I'd like to get a variable speed pump, but I'm not sure we'll remain in this house beyond about 2 years so I don't know I'll get a good return on the investment. As such I've been looking at the Superflo 3/4HP. I believe the pump was original to the pool and is around 10 years old, but even still I'm having trouble wrapping my head around cutting the power in half. Any suggestions or insight? I'm completely open to suggestions with the caviat that I will probably only have 2 years to have any return on investment in an area with fairly low electric rates (~.10/KWh).
 
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