Going three phase is the way, if you have the cash! you would need two VFD's one for the main motor, and a smaller one for the feed motor, I would certainly go back to 2hp, 3/4 hp motor has done well to last this long! I have a harrison horizontal mill with the optional vertical head, superb machines, Single phase swap would be ok, but go for at least a 2hp motor. 3ph would be smoother, and also you get infinitely variable speeds and soft start. You could of course just get a three phase main and vfd and leave the feed motor as is!
Good luck with it all
Phil.
Edited By Phil Whitley on 21/02/2019 18:49:29