VFD? - Brodgeport retrofit questions

greetings all,

can anyone help me with a few questions about vfd's for use with a
bridgeport retrofit?

1.) when considering a vfd for use with a 220 single phase supply
and a 2hp std. bridgeport motor, what rating should be selected
a 2hp or somewhat larger, say a 3hp vfd?

2.) from what i have discovered, these vfd's will also handle
the reversing of the motors direction. by using one of these
will i completely eliminate the original bridgeport switchs?

3.) by using a vfd, how will the bridgeports "hi-low" range be
switch selector be affected as this machine is a variable speed
spindle?

4.) other than by a computer, how else is the speed of the spindle
regulated after installing a vfd?

5.) when using a vfd, what spindle speeds can be achieved typically?

6.) do these units affect the motors torque? if they do how
is that problem corrected?

7.) when using a vfd, how would you position the belt.

8.) generally, does most of the original bridgeport spindle control
circuitry become extinct?

thanks again
jeff