As a follow up, I received the shaper a few days ago and have been busy but tonite I spent time with it. The model I got is a Grizzly 1 1/2 hp and so far it seems like a good asset for my shop. I plan to use it for things I can't handle on my router set up in my table saw extension and always planned on using them both - not one doing everything. Sure, the shaper cutters are more expensive than router bits, but for larger than 3/4" stock, what choice do you have? I intend to use the machine for entry and interior doors in a non production setting. I also see myself using it for spinning the rail and stile bits I already have with 1/2" shafts. The router attachment that I bought as an accessory is slick. I thought it gets tightened down like a router bit into the spindle collet in the shaper, but it works better than that. A threaded rod screws into the router collet attachment and then you slide the whole assembly through the shaper motor and tighten a bolt on the other side of the motor. What's more, the router collet has a slotted side to keep it seated when you insert it. I don't see any problem running this shaper with 1/2" bits.
The only thing I know I'll do is to skip using the factory split fence that is a big bulky cast iron device and instead make or modify a router table type fence so that adjustments are quick and tool-less. Plus, you don't have to buy shaper bits at retail. Sure, they're $250 new retail, but for a person like me who may make a door only occasionally, there's always Ebay... I'm designing a new front door. I'll have to check back and let you know how it turned out.