I have also never used a proprietry inverter due to cost considerations, but have sacrificed some torque and used capacitors to give "quasi" 3ph. Whilst this may be frowned upon I have found this to be a good solution on motors up to 3HP
As long as its safe and it works for what ever application its in then I dont think it matters, I read that some of the Emco lathes and mills are configured like this from the manufacture.

Thanks Mc, worth a try.