Thanks for this information. We were just discussing this question. Investigating a 3 phase 1hp motor for use on a lathe (which we don't have yet!). The motor needed will likely need to be 1725 rpm. Found some inexpensive 3450 rpm motors also rated at 1hp. So, it'd be easy enough to run one of these at half speed using a vfd, but somehow it just doesn't seem it would provide the same power. I've never looked into variable speed electric motor torque curves, but would guess they're not a constant at any rpm. Since HP is torque x rpms, it brings up the question of how these motors are rated and what their actual power is at different rpms.
Dan