"spool" = small pool.

I don't know anything about pools except that I like to swim in them. Please forgive me for having no idea about what any of the following means;
Magnatek
Self Priming Pump
Model - 347881 UR Hiflo
service factor 1.0
serial # 0999-605 ap
HP - 1.0
Volts - 230
Amps - 10

I've called pool people/places and everyone has a different opinion. Mostly they're all opting for a reconditioned single speed motor which I would be fine with but now the question is what size motor do I get. I was told that the motor I have on there now is a 1.5hp motor but I think that's a mistake because my pump clearly says 1.0hp.

1. If I choose a re-conditioned motor, which brand and model should I get?
2. Would it behoove me to forgo the single speed and spend the extra money for a 2-speed?

Thank you