I have tried all the routes myself. Right now I am running an Anderson RPC. I had a static one for a mill and it cut the power significantly and ultimately burned up the motor. I converted another Bridgeport to a DC motor with a variable drive on it- I have 2 this way now. My bigger lathe has the RPC which is 10 hp and the lathe is 6 hp.
My one attempt at using a VFD made smoke and no worky so I gave up on that idea. A 10 hp 3phase motor will work for what you want but will use more power than is needed and therefore not as efficient.
I wish I could get 3 phase to my shop for $1600!!
