The stock contactor was always noisy, hummm, buzzzz, you get the picture, so out it went, and here is the wiring diagram for the standard 4 pole contactor I replaced it with.
I am sensitive to sound. here is the wiring diagram of the new contactor:

The box with stop, fwd. and rev. buttons contains some relay logic, to keep the VFD turned on by a press on a button, and also disable the opposite button.

It also contains the option of adding an external stop switch, which can come in handy, when threading into a bottom hole.
The wiring diagram is here:

There is one decision coming up rapidly now, choise of spindle nose.
If I keep the stock 1-1/2"x 8 TPI nose, I will have to machine 3 backplates for the tooling I intend to purchase: a 160mm scroll chusk, a 200mm 4jaw independent chuck and a faceplate. (the latter will be waterjet cut and mounted on a ready made adapter plate for the spindle nose of my choise, the ISO 902-3/DIN 55027. I bought the standard PDF.
My main concern here is the extra added overhang that will inevitable be the result of this setup.
If I turn the adaptor according to the standard, this will be the outcome, and I even have to trim the labyrinth faceplate to make way for the 3 nuts:

I don't feel too comfortable with adding almost 25mm of extra overhang, so I propose to slim the adapter slightly:
The flange is 20mm thick, which seems reasonable on a spindle with a 40mm bore, but the Boxford is tiny in that conparison, so I will trim 8 mm off the flange, to make it 12mm thich
The bayonet plate is 6mm, I will make it 5mm instead.
Lastly, by trimming the nuts down to 8mm length instead of the original 12, I will reduce the extra added overhang by 13mm.

I am not at all sure this will matter, seems like I am rapidly entering the territory af the diminishing returns, I will see what you guys have to say about this.