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Firestopper
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Looks like I have lucked out on the VFD. It is a teco n3-201-cs-u which appears to run on single or 3 phase and has increased hp range in 3 phase. Woohoo. Two birds one stone!
The best of both worlds IMO.
I would like to add a VFD to the lathe someday. I saw another members (mjks) lathe set up who is using a ton of parameters via VFD. He's very sharp and has helped a lot of members on this site. I am lucky to live in the same town as he has been very helpful with design, rewiring and programing a plate roller I had been struggling with for some time. One of the cool things he did upon finishing the install was Autotune using a laptop.
Keep us posted.