Danno,
Is the Yaskawa V1000 a sensorless vector (open loop) controller?
PEO Distributing, an eBay retailer, gives you some of the basic differences of the different types, in layman's terms.
V/Hz - $, simplest, cheapest, basic form - HVAC fans, conveyor, etc
sensorless (open loop) vector - $$, higher torque thru output range, common choice for machine tool spindles, decent speed/torque control
Closed Loop Vector - $$$$, excellent speed control when used in Closed Loop mode, full feature drive
http://www.vfddistributing.com/vfd-blog/
If the V1000 doesn't suit your needs, maybe you can land an Allen Bradley or any of Al's recommended industrial quality drives from a Canadian ebayer.
The aforementioned blog will also explain in layman's terms derating a 3ph-in/3ph-out for 1ph-in service. This may expand your choices for a local supplier.
Good luck, and I'm sure you will enjoy the benefits of the vfd when you land the right deal.
postscript edit, PEO seems to use the 'phase converter' terminology loosely for any drive originally designed/specified for single phase in, three phase out. IMHO, I think the choice in terminology can be a little misleading. In a more traditional sense phase converters, rotary or static, permit post drive/output load switching. I would therefore assume an inverter phase converter would allow the same, where as most (all?) vfd's will not.