G'day Lee
I have VFD's on both my mill and my lathe.. Both are 1.5KW motors (2HP) and i run 2.2KW rated VFD's (3HP) . I chose to up rate the VFD because even though the motor is rated 2HP it can deliver quite a bit more than that for a short time without any problems.. The VFD has current limiting so you are then limited to what ever your VFD is rated for. Most modern VFD's are fully programmable so you will need to study the supplied manual and program and wire it your self or else get someone qualified in to set it up for you..
One KEY point i would make with any VFD for a lathe or mill is to ensure that is has dynamic braking. This is where a large suitably rated resistor is also connected to the VFD. When setting up the VFD you can choose how quickly the motor ramps up to full speed and then back down to a stop. Obviously the ramp up time is determined by the current limiting of the VFD ie faster ramp up the more current it will pull..
The reverse happens when you ramp back down to a stop. In this situation the motor and it's load(spindle,chuck etc) then act as a generator and the VFD has to dissipate this energy supplied from the motor. The shortest ramp down time is therefor determined by the current handling capacity of the VFD..
This is where dynamic braking and the large resistor comes in.. With the braking resistor connected, the VFD is able to "bleed off" the excess energy and dissipated it into the resistor.
All of this is is required in order to start and stop the machine as quickly as possible. Without the braking, lathes with their heavy chucks etc will take an age to come to rest.. If you try to push the ramp time too much without braking enabled, the unit will just fault out on an over current or over voltage fault,requiring a manual reset. With out braking, my small lathe would take around 10 seconds to come to rest from 1800 rpm. With Braking, it takes less than 1.5 seconds!
Being able to stop quickly is a good safety feature but it is also very useful when threading metric threads.. You can just withdraw the tool at the end of each pass and drop it straight into reverse.. The lathe will then safely and very quickly come to a rest and then accelerate up to speed in reverse.
Cheers
Leeroy