I've been running my workshop off one of the converted 10 hp Plug & Play 440 volt output single to 3 phase VFD units from Drives Direct for the last decade or more.
Expensive but it does what it says on the tin. For all practical purposes its the same as having proper 3 phase from the electric company. Albeit with rather low maximum power rating.
Drives Direct say it can start motors up to 5 hp and run up to 10 hp in total. I've had 9 hp running off mine. Start rating is probably true off load but I'd consider 3 hp a more appropriate maximum if things have to run up on load like my Smart & Brown 1024 lathe does due to not having a clutch. I'd definitely want to run a reciprocating compressor up unloaded. My compressor is a Hydrovane and the box it doesn't even blink when that cuts in. Does just fine on the old 3 hp two speed motor fitted to my wartime P&W model B despite(?) the wonderfully steam punk, true to period, oil immersed contactor system.
I splashed out on the smoothing inductor set supplied for CNC use. Drives Direct said that was unnecessary if just running motors but I'm happier without sharp transients floating around the shop.
Despite having built several I don't care much for static converters. OK when they work but if they lay back their ears and decide not to co-operate they can be major league frustrating. Best thing to do with one is to make it a pseudo rotary by hanging a big pilot motor on it. Transwave rotary converters work well but they do like a nice stiff mains input supply. Especially if running close to nominal capacity.
If installing a Transwave I'd use 1/2 nominal capacity as the maximum single motor load rather than the book 2/3 rds. 90% of the time book will do just fine but if it doesn't sorting the issue can be major league frustrating for folk without the rather special equipment needed. Basically you need to monitor phase current and relative shift as well as voltage and understand exactly how things interact. Easier to just over-rate a bit.
The last Transwave I had issues with would start, not start or run at half speed the motor on a hydrovane pretty much at random. Everything else in the workshop had run just fine right from first installation ten years back. Wired in, hit the switch and everything worked just like that. Couldn't have been easier. Re-wiring the supply back to the incomer with heavier cables almost sorted it but it still occasionally glitched and decided to run the compressor at half speed. Sorted with an inverter in the end. Totally idiot thing was that that particular compressor had been run just fine for several years via an identical Transwave rotary converter box in another workshop.
Bottom line with converters or plug'n play VFD boxes is don't shave the margins. Choose a decent brand, like Transwave,or known to be reliable supplier and buy a bit of extra margin so its certain to work even if your supply and set-up is less than ideal. I'd be chary of lower end offerings from folk like Machine Mart. Ordinary VFD boxes of decent brand seem to be bulletproof if rated power is the same as the motor tho' but they can't cope with two speed motors.
Clive