I use a sensorless vector VFD for my mill also (older series 1, so I do not have to change belts). My basic understanding is the sensorless vector allows you to run near full motor output at any speed. I run my mill at 5hz sometimes when I am tapping. I set the belt at one position and only change from high to low.
But on a lathe, I have all the speeds I need via the gear head. If I can save some money, I would rather not spend the extra on the sensorless vector feature.