Wesley,
First, and I hope this does not sound like bragging, let me say that I am a college instructor, teaching electronics. So, what I said is true. 220 VAC is made up of two 110 VAC sine waves of opposite phase. I have looked at in on an oscilloscope. If they were in phase, there would be zero difference between them.
The other thing that you mentioned that I wanted to reply to is that you said the power company charges for amp-hours. No, they charge for KWH, kilo-watt hours. A kilowatt is 1000 watts. Wattage is the unit of power measurement. They charge for power, which is equal to voltage times current.
All of the other stuff that you mentioned is negligible. The point is that if you need a 1HP motor, it will cost you the same to run if no matter if you wire it for 220 V or 110 V. The motor needs a certain amount of power to run under load. The load does not change with the voltage applied. Neither does the power required to pull that load.
If you want to get technical, we could talk about line loss, and the fact that 220V has less line loss. Which is a savings, that could be a factor, more so if you are running a long power feed. Other than that, there is no difference.
