Norm, your choice, obviously, but I would second Clive's words about keeping the wiring changes to a minimum. I have a circa 1986 BP with the 154-D control box, and it was a doddle to install the Genesis 2HP VFD down at bottom-rear inside the box. IIRC the wiring changes were trivial (I've probably got my notes somewhere), and I just mounted a small box underneath the DRO display with a pot and a fwd/rev toggle switch. All the main controls (emergency, x-feed, pump, etc) remain unaltered. The main BP motor switch remains permanently in the normal position, and I just flip the toggle switch on my speed-control box whenever I engage the low gear.
Roger