I'm in the opposite camp as far as vari-drive versus step pulley. I've had a 1974 Series I Bridgeport with the vari-drive for nearly 20 years. I do a lot of different materials and find the vari-drive much more convenient that a step pulley machine. Granted they are a bit more complex, and probably a bit more expensive to repair should they fail. However mine is now over 46 years old, it's used on a daily basis, and still is completely original.
As for 3 phase I wouldn't avoid it. My machine has been running on a Phase A Matic static phase converter ever since I put it in the shop. As mentioned I run it on an almost daily basis. Some weeks as much as 40 to 60 hours. Static converters are cheap and easy to install. The only caveat is that the motor will only produce about 2/3 its rated hp. With a static converter a set of capacitors provides the third leg until the motor comes up to speed. Then it drops out and essentially the motor is running on single phase. In 20+ years of running my mill on a static converter I have never had a lack of power or problem with overheating.
I have 4 machines in the shop running on static converters. They include the Bridgeport mill, Sheldon, lathe Racine power hacksaw, and Black Diamond drill grinder. I have no problem with a VFD. In the case of my machines I thought the static converters were a better choice. They allow all functions including speed changes to be done with the original control panels, and without rewiring any machine components. It takes all of 15 minutes to install a static converter, and they are all but bullet proof.