Most of the settings are correct and you will, most likely, get it running "out of the box" However You really should go through all the settings amd understand them before pushing the run button. MAgic smoke is real hard to reinsert.
One parameter in particular you should check is PD142 (rated motor current) and set it to your motor spec which in my case was 7.5 while the default was 11 (max of the VFD)
Now having this set too high will not stop your spindle running it will however cook it if you apply a large load to the motor while cutting as it will ramp up to this max..... smoke escape!
There is another thread on an Aussie woodworking forum where I've posted my findings and settings.
http://www.woodworkforums.com/showthread.php?t=96380
Cheers