I have a standard 4848, no experience with the pro line.
My machine does everything I need it to. I don't know how accurate it is, but probably within 0.025" over the full travel.
spindle/vfd is nice, but the main reason I got it was to reduce noise, Of course cutting noise drowns out everything else on most cuts.
VFD takes 220v 60hz (in america) and converts it to 3 phase variable frequency to drive the spindle motor.
Your list looks pretty complete. As far as build time, I'd estimate 40hrs start to finish for everything. tweaking and all.