Well, 350 FPS is very fast for a crossbow, I shoot an Excalibur Exocet 200 and it shoots 300 FPS, that isn't as fast as you may think if you are accustomed to a compound. A stubby little crossbow arrow doesn't stay moving fast for very long..
I also shoot a Jennings T-Master vertical bow, somewhere around the same speed of 300 FPS (at 60 pounds or so) but that arrow trajectory is much flatter. Don't get caught up in the draw weight of the bow, it takes a tremendous amount more draw weight to make a crossbow shoot the speeds of a compound.
So my 200lb crossbow is slower than my 60 lb compound.. Take some time and research some crossbows when you can, there are a lot of illusions out there on what they are capable of, the first thing most compound guys do when they hear that a crossbow is 150# is assume it will shoot a mile.. Your are restricted by the same principals of a 30 yard shot with either bow.
crossbows are a riot to shoot, but have a hard time keeping up with the speed and accuracy of a good vertical bow. You may want to watch for something used if cost is an issue.. Keep in mind that you are dealing with energy, the little limbs of a crossbow will still deliver some recoil, those limbs have to go somewhere right?
There are some pretty bright people around here, you will find what you are looking for. Your wife is in for some fun!

*edit*
I have a few of Horton's hunting videos, they seem pretty decent but I know nothing of the model you are asking about.
Range.. crossbows have a very limited effective range, very similar to a compound, 30 yards is a fairly long distance to get an arrow out of one without a bunch of experience. It is basic physics, again, don't get caught up in the numbers, it is still only an arrow.
I don't know what you mean by compound envy though, crossbows were around hundreds of years before compounds.. Not all crossbows are compounds, mine isn't.
Hunt safe!