At my old job, we had an old 12" drum roll WoodChuck tree chipper with a Ford 300" six (added oil, checked the gas). It was a great chipper, and would grind up anything. The drum roll chippers are not self feeding (the slow type), when you jammed a log into this style of chipper, it would suck the log in faster than you could see, it would just disappear (had to be careful not to get sucked in).
My advice, do not get anything smaller than a 12" chipper. Anything smaller will be more work than it is worth. Also, ensure that you have sharp blades on the cutting head and the sheer block is adjusted to the correct height or else you can cause damage to the machine and not have an efficient cut.
If you are looking for one cheep, check out the Heavy Truck Trader magazine. They usually have stuff like that in there.
-Rich