Thought I might as well get this going today while I had time, and the coffee was still kicking in!
Power Augers, God Bless the Tecumseh engine! Even though there are 4-stroke models available these days, that 2 hp Tecumseh has been around for years and just keeps on going. You will find them on all the models from StrikeMaster (except the 4-stroke) and Jiffy also, who even has a 3 hp available. Guess my advice would be to stick with the 2hp based on experience and the extra weight of the 3.
Eskimo makes a fine auger in their Shark models, also in a 2-stroke engine, but they are rated by CC’s. I say the Sharks, because those are the models I have experience with, and know people who have them. They also have Barracuda and Mako models available for less money.
The big difference between Jiffy and StrikeMaster is the style of blades they use. All the Jiffy models have a single chipper blade. The SM Mag 2000 also has a chipper blade, being that it is the least expensive in their lineup and has been a workhorse for years, its a very popular model.
The model I run is a StrikeMaster Lazer Mag Express. Its got that 2 horse Tecumseh, and I have been running SM smokeless oil in it since day one. I got such a good deal on it when I bought it, I didn’t care what sized auger it came with. In my case, it was the 10″ blades. That’s fine, really, because it is perfect for pike, salmon, trout and big walleye fishing. Now the year I bought mine, was a very good year for ice with a long season. I thought about getting a 6″ lower unit(actual auger) and just switching them out depending on what I was fishing for. The 6″ would have been perfect for all kinds of panfishing, but like I said it was a good year for ice, and the factory was all sold out of the 6″, even the 8″ was gone. I think it must have been a blessing in disguise, because I ended up with the 7″ lower unit. This auger’s cut has been perfect for all things caught in the inland lakes. From mid-sized pike, to walleye to bluegills, they have all came through the holes with little effort.
Sidenote: I should have mentioned this with the hand augers too, but its always good to have backups. I carry with me a small repair kit for my augers, hand or power it does not matter. Extra blades, snubbers and tools. The best time to do this is at the end of the season. Instead of $20 for hand auger blades, you might find them for 12 bucks. Instead of $34 for power auger blades, you should be able to get them for less than 20 bucks. Nothing better than being able to switch out the blades on the fly and being able to keep on cutting holes.

I love tecumseh engines as well. A little TLC and they will run and run!