Ups. got an itchy trigger finger and just bought One.

BRAND NEW TELEMECANIQUE ALTIVAR 31 MOTOR INVERTER DRIVE
MODEL No. ATV31HO75M2
STILL IN BOX
SINGLE PHASE TO THREE PHASE MOTOR INVERTER
INPUT 220V AC 50 Hz
OUTPUT 0.75Kw 1 HP 240V THREE PHASE
COMPLETE WITH INSTRUCTIONS AND CD
just under 60 notes with postage, 1HP ??? what have i done...Supose it will be ok for the little lathe