grdstat sez:

"... I tried doing this just this past weekend when I balanced out my 7.5
hp idler. Adding the PF caps didn't decrease my line current, it
increased it. ..."

Check the manufactured leg with your clamp-on ammeter with your converter
unloaded. With balancing close to optimum, you should read the motor's
name-plate current in the 3 rd. (manufactured) leg. This may sound strange!
The current you are reading is reactive. This current is out of phase with
the voltage that causes it. For example, on my 7.5 HP idler, that reading
was 22 amps which is the full load rated current of a 7.5 HP, 3-phase motor.
My mnufactured leg, or 3 rd. leg, current could more exactly be stated as:
(22 angle 30 degrees) amps, or aprox.
(19 + j11) amps.

When balanced, I had 93 uFd in one leg and 167 uFd in the other leg and 40
uFd connected between line 1 and line 2. This 40 uFd (power factor
correction) cap between input lines caused the (clamp-on) current measured
there to dip to (become a minimum) at 3.8 amps. Input line current measured
at L1 or L2 was 3.8 amps.

This from a very old, very heavy, Wagner 7.5 HP, 3-phase motor.

Bob Swinney