I ended up mounting the VFD inside the base of the lathe, just behind the cabinet. As seen in the picture, I can access the VFD controls by reaching in through the slot provided for storing the faceplate. I've wired as per your initial post, Ryan - using the original momentary pushbuttons, along with the original contactors to control the VFD. I'm still using the variator, and so I don't have much need to access the VFD. The noise from the variator continues to annoy me, and if I get rid of it, I can always bring a potentiometer out to the front of the lathe. The VFD is safe from chips and the only exposed wiring is an armored cable from a metal outlet box on the wall to the lathe's electrical enclosure. The only downside, which I didn't anticipate, is that when stored, the faceplate rests against the case of the VFD, although I can still close the cabinet door.