oh man, you're eliminating the crazy crystals? One is an old Delta 14" bandsaw and the other a van norman no. 0 mill...which machine, what HP, what speed range?
I am rebuilding a Monarch 10EE from DC to 3 phase motor and VFD. Have a thread on it here.
Which VFD for 10 hp spindle
You don’t need the encoder. It is helpful for maintaining extremely low rpm or very precise rpm regardless of slip. You can always play with pulley size on the motor to get your ideal performance.www.hobby-machinist.com
For machines of say 3hp or more 3phase VFD is a pretty clear winner. small stuff depends. Keep in mind it nice to over size the 3 phase motor to give torque at low speeds.