Atlas motor

In real life not much difference for small motors with short cords. If you are using long cords or cords with small diameter wires you will have more power lost as heat in the wires at 120V than at 240V reducing the actual power the motor can deliver. So 240V is better, but maybe not enough for the added inconvenience.
 
As a general rule, if the motor is re-connectable for 240 VAC and if you have 240 VAC available or know how to get it and know how to re-connect the motor if necessary, go with 240. If you have to pay an electrician to run 240 to the shop and/or reconnect the motor for 240, probably stick with 120 vac.
 
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