Trying to replace Circulation pump

[JayTee]

Howdy! first time on this forum, hope everyone is having a good day.
I'm trying to replace the circulation pump in a Balboa EL Neptune (pretty sure that's what its called)
Original pump in Hot tub was a Waterway cp-1/15-1n22a
3410020-0E motor
The pump motor specs are labeled as follows
1/8 H.P.
230v
0.8A
S.F. 1
1725 RPM
Continuous run time.

Just about every reasonably priced pump ive found (sub $200) is rated at 1/15 H.P. Does it matter? Should I spend ~$300 to get one rated 1/8HP even if the lower HP motor has the same RPM?
also the one i keep seeing (Iron Might 3410020-1E) has a lower SF value of 0.63A Is this a big deal?

top contender for replacement:

https://www.walmart.com/ip/Gecko-Alliance-3410020-1E-Iron-Might-Circ-Pump-44-230V-0-8A/115706139?wmlspartner=wlpa&selectedSellerId=1582&&adid=22222222227046475627&wl0=&wl1=g&wl2=c&wl3=96531595610&wl4=pla-218879689010&wl5=9016858&wl6=&wl7=&wl8=&wl9=pla&wl10=113139572&wl11=online&wl12=115706139&veh=sem&gclid=Cj0KCQjw0rr4BRCtARIsAB0_48Ou_bwsIFM0jSFsDZtfPGZ9KGOZM3lUx4drDR7m_BK6TGXa5vWt9AkaAhUeEALw_wcB

Pardon my naivety, first time Hot Tub owner. Any help is appreciated.

[Red MC]

A quick Google search for that model shows that you can purchase an (near) exact replacement for under $200.  Here's a link to the first search hit:

https://www.spapumpsandmore.com/Waterway_Iron_Might_3410020_1E_p/waterway34100201e.htm

I did see that searching for that part number generates hits for both 115V and 230V models, some claiming 1/8 HP and some claiming 1/15 HP.  What you really should care about is the overall size, diameter and threads on the pipe fittings, voltage, and the flow rate.  The hits that say 1/15 HP specify a flow rate of 40 gpm.  So do the hits that say 1/8 HP.  So don't worry about the HP rating.