Can anyone tell me about their cockatoo?

We are looking at one, and I just don't know. It seems like a lot to undertake. He could live 70 years! I have a conure now and love him to death, I don't want him to get mad at us. The cockatoo will need an even larger cage than our conure, who has a nice large California cage. I don't know where to put the new bird, I have the room for him, just don't know if the 2 birds will be happy seeing each other. I would want them both to be positioned where they can see us most of the day, and that would mean they would also see each other. Are the friendly? How powerful is that larger beak?, my conure could take a good chunk off you if he chose to. Do they need to be out most of the day with you, or will an hour or so of cuddle time be enough for him? Anything anyone would like to share would be helpful, thanks.