Something important to consider you said woodworking machines, many bigger machines will have brakes fitted to conform with the requirements for woodworking machines, as blades and cutter blocks need decelerate and come to a stop in under 10 seconds.
Some will be mechanical occasionally built into the motor some will brake units incorporated in the control gear to inject dc back into the wingdings to slow the spindle.
Obviously this will have a effect on any conversions you need to make most vfd's have brake features but will normally need external resistors needed to cope with the demands of braking a shaft with plenty of momentum.
Phase converters normally cope with brakes OK providing you avoid the artificial phase.
Yes they will have brakes.
I hadn't thought/considered that fact, it's never the straight forward is it. I guess I need to speak to a manufacturer of vfds as to be honest I'm a little lost on all of this.