It depends on just how much wood you really split. If you're splitting a lot of wood, having a dedicated gas engined splitter makes better sense to me. I cut on my land and neighboring ranches and always bring the rounds to the woodpile and then split right off my trailer or whatever I haul the wood with. That way I don't have to lift it up again from ground level. The key is to touch each stick as few times as possible.
I've got a Timberwolf with the 24hp Honda engine and one of those Home Depot 27 ton splitters with a 5.5hp Honda engine. I keep them both out at my woodpile. Every year I cut 50 to 75 cords. I burn about 4 - 5 cords and sell the rest.
So again, it depends.... If you're a weekend warrior cutting a cord or two a year, get whatever makes you happy.