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While I am always happy to hear flattering things about this place, I am very leery of questions like this. Honestly, if it were my business, these sorts of things would be closely held business secrets that I'd only ask my accountant and attorney since they would be nondisclosure agreements in place. I'm willing to bet that I could probably spend an hour and figure out who your company with you've provided and publicly available information.
I'm just going to caution you that any and all answers you get here are from laymen and that acting on any advice here without professional advice is insanely foolish.
That all said, the tax implications are huge with a lump sum payment like this, both corporately and personally. You may want to investigate options like forgiveable loans. As far as the impact of additional compensation on both of you and the corporation, that's unanswerable given the information you've supplied (and PLEASE - do NOT give us any more).
As far as a Subchapter S Corp, it depends on your current and future revenue streams. Ask the pros.
I usually real estate owned by a Subchapter S corp, but that's me.
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"We have met the enemy and he is us." - Pogo
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