I have a 3 hp Unisaw that I ran on a Teco FM 50-203C without any issues, and it was handy for soft starts and deceleration. Don't want to set too rapid a deceleration as one could spin the arbor nut off. I think mine was set for 3 secs.
in my case, I had the VFD mounted on the shop wall some 15' from the saw with a start/stop station at the saw. You want to put the VFD in an enclosure with adequate ventilation but well clear of the sawdust being produced by the saw or other machines.
[SIGPIC][/SIGPIC] Erik
Canada's Atlantic Paradise - Prince Edward Island