Around 20 years ago I bought a Lux style mill from Chester factory fitted with VFD drive via a two speed belt system. No gear box as it was designed that way. I think motor was 2 HP. Seemed a good balance of speed range and power especially as there was a good overlap between high speed and low speed belt positions. Worst point was that changing belt was a bit of a struggle due to limited access.
VFD was a compact european built type without frequency display or control buttons fitted inside the head where gearbox is on the normal version. Neat way of doing things. I never missed the frequency display. Fitted a knob from RS with a numbered skirt running from 1 to 12 and stuck a number to speed conversion chart on the front face of the head. Used a stroboscope disk printed out from either ME, MEW or the internet for calibration. Strobe disk design from Tony Jeffee I think.
Were I to do one I'd use a poly Vee belt, reduce the speed range overlap to go a bit slower for facing / flycutting and put a bit more effort into belt tensioning system design to make belt shifting easier. Nothing intrinsically wrong with the set-up on the mill I bought. Usual simple eccentric motor mount with bolts running in curved slots. Just needed a bit more work on the details to make it easy to use with the head up in the air. As supplied would have been fine on the bench looking down on it but unnecessarily hard from below.
Mine was a one off to test the market. Price performance ratio clearly didn't work for most customers as being maybe 1/3 rd more expensive than the standard Lux. Perhaps £450 (ish) more in those days. Pity as I felt it to be a significantly better machine. Moved on to Bridgeport now which suits the work I do better.
Clive