Modus scales far better than SM. I work in an environment with both. Our ISP customers are on Modus and our hosting customers are on SM. We originally started using SM for the same reasons you are looking at. Lack of user features and the fact that I hate dealing with Vircom support. Unless your planning on a load balanced gateway setup you may find it difficult to use SM in your situation.
We also use Declude and Message Sniffer. Both are terrible cpu hogs. Theres no way you could put them on the same machine running SM. Especially with decludes track record of poor upgrades. Every point release sends the cpu in one direction or another. That said, they outperform our barracuda firewall that we have in front of our Modus server. Message sniffer does. Without sniffer you'll find declude is a fairly mediocre product.
Have you thought about just offloading your webmail? Thats what we ended up doing for the modus clients. There's alot of good choices out there. We ended up using Roundcube for the webmail side of things. It goes through inconsistent development cycles but our users love it compared to the modus interface.
-e