[How do I?] VFD recommendations for Maximat lathe/mill

Yes you will need 2 if you run them both at the same time.

Note that the input current for the 120V model is 19 amps. Running 2 of them would grossly exceed the capacity of a typical 20 Amp 120V circuit. This is probably a good reason to go with the 240V version (input listed at 11 amps).
 
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I have a 1hp Teco on my drill press. It works great, but has no provision for a braking resistor. I have a 1/2hp Fuji on my little Clausing 8520 mill which also works great and it does support an external braking resistor (which I use). Both of them have knobs that I use to adjust the speed, both run on 115V, and I wouldn't hesitate to recommend either brand. The Teco is twice the size of the Fuji. Sounds like you're probably going to run with 240V inputs. That model Teco is half the size of the one that I have. I think the Teco might have more capabilities than the Fuji, but I don't use the fancier features on either one as it is.

You have a whole lot of choices in the 1hp category. If you want the braking function I think you would be happy with a Fuji, but there are any number of manufacturers to choose from that I'm sure would work well.
 
Thanks all! Yes I plan to stick with the 240v since it's already wired to the machine. One thing that concerns me, the current switch is mounted directly to the motor from the factory. I assume I need to bypass the switch and I hate the idea of messing inside that motor casing. These seems to be very well built Austrian motors.
 
You could leave the switch ON all the time, maybe with some tape over it so you don't accidently turn it off with the motor running. My guess is bypassing would not be a big deal but having never seen the motor and being 300 miles away my speculation is worth every penny you paid for it! :)
 
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