I vote for 3-phase because the motors on Ebay are very cheap. I've
purchased 1/2 and 3/4 HP 3 phase motors, all new, on Ebay consistently
for less than $60 including shipping. Some have cost me only $30. These
have not been cheapy motors either (Reliance, Westinghouse, etc) I have
remotored a lathe and mill for VFDs. A bandsaw and drill press are
next. The VFDs have cost less than $100 each. Bye bye belt changes.