Shawn wrote:
For instance, can this also serve a planer?

Not really, although it may be close enough for you that it doesn't
matter depending on what you're making and how careful you are
selecting rough stock.

I know that if you have any
type of cup in the lumber, this would be a better option for flattening than
a planer.
But taking it a step further, can you flip the board and run it through
again to achieve the desired thickness? ... as you would in a planer.

You could flatten both sides with a jointer, and they would be flat.
The problem is that the two sides may not be parallel. You may end up
with something slightly wedge-shaped.

And finally, how would it run being wired at 110V?

It depends on the size of the motor. Most smaller induction motors can
be wired either way. The problem here is that 110 requires more
current than 220, requiring fatter wire. As motors get above around
1.5 or 2hp, the wire thickness and currents drawn get ridiculous.
There's also less of a problem from voltage drop over the length of the
wire with 220. If the motor comes wired for 220, usually you can
remove a plate on the motor and move some wires around, change the
switch, change the plug, and plug it in. If the motor draws more than
20 amps at 110, you'll have a hard time making it work, since 110
outlets are rated for either 15 or 20 amps. I'm not sure how you can
follow code and make it work. I run my 1.5hp contractor table saw on a
20amp 110 line and it works just fine.

I guess I'm trying to figure out how far this machine will take me without
having to make an additional purchase in a planer.

If you want to temporarily cheap out, a bench topplaner is not a bad
choice. Most of them are fairly good. Just be sure to get the dust
collection hood and use it.

Most benchtop jointers on the other hand are probably not worth the
trouble. I had a delta that was so-so. It probably would have been ok
for jointing boards 3' and shorter, but not much more. I tried to
joint longer boards and had trouble with it.

You could also buy the planer instead of a jointer and just buy s2s
lumber until you can afford the jointer.

brian