75 watts per pound(a bit over 200 watts in this case, I'd guess) is more than adequate, but if you want to fly vertical, then I suppose you need a lot more. Possibly somewhat more for ALES. I'd guess you'd want maybe a 10 inch prop or larger. (I used a 6 inch prop on a 1.5 meter glider and it was just fine.) That's assuming a prop matched to your power system. I've also assumed you're willing to fly it up instead of hanging on the prop.
If you keep the weight down and don't add a whole lot of drag, you are in for a treat. The Oly II is a very nice handling glider. ('sailplanes' are for those with bigger egos). I think the last time I flew mine (without the ugly spinning thing) it spent at least 5 minutes upside down, keeping it low enough to see. Have to admit the handling is fairly poor when flown upside down, though.