I am glad it worked out for you and saved you a lot of $$ in not having to invest in a complete new system. Although I have built/installed dozens of VFD control systems and probably helped 2-3X more with their conversions, I am still a proponent of trying to stay with the 10EE drive system you have for the immediate (10-20 years) future. A VFD drive will not give the same low speed performance as the machine's DC drive. The basic 10EE control/drive system is very basic (from a component stand point) and if you factor that the tubes can/have lasted for decades, pretty much everything else in the control system is replaceable at a nominal cost. That is why the tubes for this lathe command such a high price, they have not been made in probably 50+ years. These tubes do come up on eBay and some of the different machinist forums so it may be something to consider having a back up tube. The VFD technology is constantly changing and if a VFD is not used on a regular bases, the capacitors can deteriorate with lack of us, one reason why companies that keep backup supplies either rotate them into to use or have specific procedures to power them up on a regular basis. If you do continue with the stock drive, do not turn the machine on/off frequently during the day, tubes will not last as long with frequent on off thermal cycling, so leave the machine on during your work session, turn it off when you are done for the day.
This previous post is worth reviewing:
http://www.hobby-machinist.com/threads/monarch-10ee.49216/