It all depends on what you want. DO you need the speed? If not, then yes, you are barking up the wrong tree. If your only draw to this boat is the "looks and the layout" then I think if you looked around a little more you might find something you like. I have no information on this boat. I do come from a sialing background and am very familiar with their sailboats. They bring good money and are highly regarded and well made. I would assume this boat is well made. On plane, I would take a WAG and say the fuel burn would be in the 20gph range. If that doesn't bother you, then go for it. If your answer to that is that you would not run the boat on plane, then you are looking at the wrong boat. We can talk ad nauseum about how it is not good to run big engines at slow speeds. Anyway, my advice is to look around unles you just love this boat. ANd if you love this boat you will most likely run it on plane even if you don't think you will.
There are other boats in this price range. I own a Mainship and am not gonna sit here and preach that they are great boats or that they are crappy boats. But they do represent a good value and they are well supported since the manufacturer still exists and it is an American company and they do want their customers to return. The Mainship 43 is in this price range and usually similarly powered although not quite as fast since they are bigger. They would probably be a bit happier going slower(I am basing this solely on power to weight ratio and hullshape) and they are a semi-planing hull(Marin, ya happy?..
) whereas I do believe the PS38t is a true modified V planing hull. You can check me on that but I think I remember that about that boat. Bruce King designed the PS38t if that makes any difference to you. Bruce King was the designer of most Ericson sailboats. Ericson and PS did have a realtionsip at one point along the way. I do know Pacific Seacraft went into bankruptcy and do not know where the company is at right now.
It is pretty tough for other people to give advice about boat selection. Only you know what you want and many times people don't know what they want....or they are not being honest with themselves. If reality meets the expectations of a boat, then you have made a good selection. If not, the boat sits....like so many do.