Here some information on the vfd install i did on my Okuma LS540 lathe. The lathe originally came with star delta starter and a 10hp motor, running 400v 3-phase (household grid connection is 230v single phase or 400v 3-phase over here).
First I used an SEW drive I found when a local company scrapped a production line but that drive failed rather quickly, must have been damaged. Besides, programming it was annoying and not so happy with how it controlled the motor no matter how I set it up. During that time I swapped in a siemens 7.5hp motor with better insulation (totally enclosed fan cooled).
When the sew vfd failed I ran the lather with a ABB soft starter and that was OK but managed to find a replacement vfd, a Danfoss FC302 drive.
The Danfoss drive is a breeze to set up, super smooth controls, current measurements per phase, encoder options, very advanced motor control algorithms etc. Graphical display, multiple languages, various bus connections and sensor inputs, much more than I'll ever need.
Plan is to find a good way to brake the spindle, as this lathe is directly driven via a gearbox, no clutch/brake. Lower gears I can run short ramps but in the higher gears (up to 2000rpm) I need/want to find a setting to make it brake faster. Maybe some form of sensor that activates braking when I engage reverse or something like that. And some good estop switches, need to think of a safe way to wire those up.
Ignore the messy wires, still setting it up.