VFDs are really popular here. They are affordable. I don't think there's any cause for bearing wear, especially since you can soft-on/soft-of with the push of a button on a VFD. If you can isolate the power mains for the motor you are driving, VFD would do the job well.
I like the rotary in my shop. A rotary is a 3-phase power source you just plug the machine into and go. If I want to run another 3-phase machine, swap plugs and go. My reason for going rotary is not wanting to cut apart the beautiful and complex wiring job inside my mill's panel box. I get to keep my ever-important 2-speed motor so my machine runs the full range as intended. You could work around that, but it is a workaround. I don't want workarounds. So I get the most straightforward use of my machines, and whoever gets them next (outta my cold, dead fingers) won't have to figure out what I did to the machine.
You could really go either way, but you already have a rotary setup. I'm sure others will have equally convincing ideas in favor of VFDs, probably forming the majority. A lot of VFD installs have been done by the members of this board.