I wired the VFD to the lathe. Not in the best way yet, but enough to experiment. Toshiba VF-A3 3.7 kW VFD, similar to what I sold to Pete C, only bigger and with cracked top cover. (I have more for sale, 2.2 and 3.7 kW)
Here's one very encouraging piece of news (related to what Karl said): switching of the speed selector lever while the motor is running does not destroy the drive. It simply trips on a overvoltage error and lets the lathe coast to stop.
I am very satisfied with this behavior. It is as perfect as it gets.
The drive can easily accelerate the lathe, even at the highest speed setting, etc.
Right now it trips when I press OFF, no doubt due to too ambitious braking that is the default setting right now.
What I need to do is:
1) A lot of settings need to be set such as no braking, fixed frequency (60 Hz), one-two second acceleration, etc etc.2) Wire it properly to turn on with the limit switch operated by lathe ON/OFF/BRAKE lever
3) Place the VFD deep inside the lathe cabinet so that it would not be a hazard or distraction. There is no need to access the drive once it is set up. So I will put it away. This will be a single phase lathe that would be operated with its original control and no weird wiring outside.The ONLY thing that I may allow to be visible outside is the FAULT indicator shown by a LED bulb. Maybe a FAULT with RESET pushbutton. That's all. I do not want switches, potentiometers, none of that stuff is necessary.