You were looking at the wrong specs. The T340 has a 2.0hp, and the T350HR has a 2.5hp motor. They use light commercial grade continuous duty motors, and I wouldn't have bought a treadmill that didn't have a continuous duty motor. Some commercial grade treadmills go up to 5.0 hp motors, (True's commercial grade is one of them.) and they in fact they do require 220V. The T340/ T350HR use 110V.
Try one out sometime, and post your opinion. I thought it was a good value for the money.