I just talked with our primary motor vendor and he agreed strongly that 4 pole equipment (or more appropriately, slower equipment) outlasts 2 pole equipment. While that is a broadcast statement, I think it is one taken from years of experience (read warranty, after-market, etc).
Now as stanier points out, if you have maintenance people anyway, so what right? Well after doing a short stint at a paper mill, I've seen what happens to a maintenance crews over a period of cutbacks and lean times. Joe Maintenance not only turns shafts and performs maintenance on equipment, but has to jump on the paper machine when the thread goes down. Companies don't have as many Joe's as they once did.
Also, RotaryGuru, your point is also what I'm looking to convey. If the conditions of service were say 100 gpm at 100 feet, a quick look at Goulds (just picking the closest catalog)3196 pump could either be a 1-1.5x6 at 3450 rpm with 5 hp motor or 2-3x10 at 1750 with a 5 hp motor. Just an arbitrary point. Initial cost factors would obviously favor the 6" pump as the smaller (1.375" versus 1.875" seal, coupling and baseplate. However, what is the L10 of the smaller bearing at 3450 rpm, which is lubed (or greased) in a smaller bearing housing. How are the axial loads and radial loads? How does the shaft deflection affect seal life?
It would be interesting to see if any lifecycle studies have been done to compare the differences. cost versus cost, operating and purchase. And I definately agree that using a pump as close to BEP as possible will outweigh all other considerations. Two pumps in series often beat 1 high speed alone in hitting the sweet spot.