VFD for Bridgeport Series 1 /2HP/ 2J VariSpeed

I have been debating which route to go with to power my Bridgeport Series 1 2-HP mill, with 2J VariSpeed head at home off a single phase.(Motor is wired for 230 Volts) Either use a RPC or VFD. I think I am leaning towards using a VFD and I think I have found a model that would meet my needs but would like some input and even less expensive alternatives.

It is a TECO MA7200 AC Drive, 2 HP, 230V 1 / 3 PH Input, 230V 3 PH Output, 6.4FLA, NEMA 1
http://www.factorymation.com/s.nl/it.A/id.218/.f

My VariSpeed head is in really good condition so I would be using it to control my spindle RPMs and not the VFD. I also would like to use the mills original drum switch for forward and reverse. I have been told that needs to be wired into the VFD low voltage side to work.

I may consider going with the Nema 4 enclosed drive to keep dust out of it since I do some woodworking in the same garage. Just need to consider the extra cost to see if I can justify it.

Any input appreciated.

Example of one VFD setup

Beezer,

Just wanted to show you how I've got my mill connected to my VFD. The unit is mounted inside a Hoffman junction box with the front of the VFD protruding through the cover. The coolant switch you see is for main pump power. When it is selected to ON, power is actually applied through a relay when the mill/VFD sees a "RUN" command. This is one of the neat features of using a VFD - there are so many ancillary features that you can take advantage of. The "JOG" switch is also run through the low voltage commands. I'm using a Hitachi SJ200 series VFD and have been very happy with it.

I really like your setup. Very clean and functional. I can get an enclosure for less then the difference between the Nema 1 and Nema 4 drives I was looking at. Thanks for posting those photos.