OK so first let me say that mm08822 is AMAZING! I haven't posted on here in a couple months, but he has been continuously helping me with this VFD setup. He never let me give up, even when I was ready to throw the VFD in the garbage and go grab the roto-phase.
As you might have guessed, the lift is now operational. I had all but given up on the Chinese/English tech support, but last night I figured I'd give it one more shot. I have spoken to VFDs.com a few times and was assured that their $300 Mitsubishi VFD would work fine and I was literally less than 12 hours away from ordering it. I went out to the shop last night and defaulted the VFD and tried the basic programming the tech support had given me. I don't know what I did differently, but the motor actually started to turn. It got up to full speed but the lift didn't move, so I flopped the U and V output wires on the motor and BINGO....the lift went up!! I couldn't believe my eyes so I did it a few times and it seems to work perfectly. I ran it all the way to the top and then back down again (it lowers really slow with no weight). Then I ran my old Ford on it and sent her to the rafters. I can't believe I actually have an operational lift in my shop now!!
Anyway, all said and done I can definitely say that it IS possible to run a 3-phase car lift with a cheap Chinese VFD. Granted I don't know how long the VFD will last, but honestly it was $115 to my door. If it craps out I'll by the "nice" one for $300. At any rate, I paid $300 for the lift and $115 for the VFD so I'm feeling like I hit the jackpot.
I won't bore you with the parameters I used on my specific VFD, but if anyone needs them just let me know. I eliminated the starter and transformer on the lift so now its wired 220V into the VFD and the 3 wires out to the motor. I wired the micro switch into the VFD as well so the lift functions exactly like it did when new....with the lever pushed in to raise the lift and pulled back to lower it. I have the ramp up and down times set to 1/2 a second so its pretty much instantaneous.
Thanks again for the input and suggestions, and mainly thanks to Mark (mm08822).