ok.. So, I figure its worth spending the extra 350 for a variable drive now,, instead of wondering what if...
question... for this controller
http://www.electricmotorwholesale.com/9520-KBAC-27D/ I see that it has options when checking out (On/Off AC Line Switch: Forward-Stop-Reverse Switch: Signal Isolator Options: AC Line Filter: (1-2 Day lead time): Liquidtight Fittings

Which of these do i need to add- if any? I just assumed it had an On and Off switch built in... Also for the KBAC with GFCI,, that is just basically a built in fuse box so to speak? Not necessary right?
Second,, once I purchase this VFD.. the first thing i have to do is wire it for 110ac? My uncle is an electrician.. I plan to take controller and motor to him for complete hook up, because all of this is way over my head.
Third.. Of the two leesons,,
http://www.ptjindustrial.com/Leeson_110917_p/110917.htm
http://www.ptjindustrial.com/Leeson_110918_p/110918.htm
its only a difference of RPMs... which would you guys get? My plan is to just buy a pulley from KMG depending on the RPM of the motor.. I realize i can put a pulley on either to offset the RPM.. but what is the ideal RPM to start with for Knife grinding?
Also, where do you guys buy the wiring harness for the VFD to wall? and VFD to motor? sooooo many question.. sorry
thanks everyone for all the help!