Now I have to decide if I want to scrap the 3 phase motor for a smaller one
and use the reeves drive, or buy a VFD controller and make it a variable
speed 220 motor.

This is well worth converting to a VFD drive. Check out
www.automationdirect.com
or
www.dealerselectric.com
for good units at reasonable prices.

Earle Rich
Mont Vernon, NH