Rockstead said:
My swim season is only 4 1/2 months at best and my electricity is cheap, is the pump that oversized? wouldn't having less flow mean poorer circulation or less balance? I tend to only run it 8-10 hours a day.
You see 2 HP pumps often enough, so many other people are in the same situation. Still, yes it is quite oversized. A smaller pump almost never causes circulation problems, many pools run with variable speed pumps on extremely low speeds, way below 1/2 HP, with no circulation problems. 8-10 hours a day is also probably way longer than you need to run the pump, unless your plumbing is very restrictive.
Despite all that, it is almost never worth replacing a working pump, unless your electric rates are quite high. Actual problems with a sand filter are also rare unless the mis-match is even larger than yours. Channeling is possible, but it will normally take years to develop and can be fixed fairly easily.