VFD and motor question

Hello -

This VFD stuff is all new to me. I'm still reading up on it so I don't
have to ask questions that have already been answered, so sorry if
this has...

If I understand correctly, I can take a motor like this: http://cgi.
ebay.com/ws/eBayISAPI.dll?ViewItem&category=26226&item=3837536121&rd=1

and hook it to a VFD, and run it with complete spindle speed control
from my single phase house electric (I live in the US)?

Thanks
David