</font><font color="blue" class="small">( A standard electric planer spins at 4K-5K RPM's typically. )</font>
Depends on your application. Finish planers run fast, but if you're surfacing timbers for a frame, they can run much slower. Also, you can feed the log slower (which is likely if you are doing rough work anyway).
There are many uses for a rough planer (or jointer) that's not fed fast, but has lots of torq and can handle very large timbers. Once you get the wood square, than you can have at it with a hand plane and get it smooth pretty fast or take it to the resaw and get nice slabs.
But I agree with your point about getting finish planer speeds from a 540 PTO..
Cliff