The IR website doesn't give enough detail to fully evaluate the differences between the two models. $500 additonal cost is significant and I suspect there is more to it than just 1.3 cfm. I am going to guess at the following reasons for the higher cost:

1. 80 gal tank instead of 60
2. Larger, slower pump
3. Larger, heavier, higher torque motor (1725 rpm instead of 3450 rpm) - although still 5 hp
4. Magnetic starter included instead of just a pressure switch

As I said, I am only guessing here (except for the tank capacity) but those items could certainly add up to the $500. You might want to ask at the place of purchase what you get for that much more. It's likely more than just the relatively small cfm difference. For practical purposes, I doubt you'd notice the difference of 1.3 cfm delivery for most things. The 80 gal tank would give you a longer time before the terminal pressure drops too low whenever you are using air at a rate exceeding the capacity of the compressor to keep up. Sandblasting and DA sanders are the usual culprits in that situation. I don't even bother with my old 6" DA sander anymore. I use a Porter Cable VS electric RO sander instead. That saves on electricity, if nothing else, and does just as good a job. Why run 24A@230v instead of 3.7A@115v unless you have to? BTW, the IR website lists the 2340L5 model as a 14.7 cfm unit, not 15.5, so you might want to verify the information you have. Even if it's 14.7, I think it'll do most everything you want and you'll be pleased with it. I made do with a 2 hp, 6.3 cfm @90 psig, 20 gal tank compressor for many years.

Rod

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