The only time I wish I had a bit more neddy than my VS 1.5HP is when I'm coring larger diameter blanks. Coring is one of the most HP demanding tasks on the lathe. My 1.5HP struggles with that when cores get up around 18" diameter.
A 2HP unit would be more than adequate for my purposes if I was not coring up to that size. Even with just 1.5HP I can manage to do regular turning up to 21" diameter outboard.