I'm using this for a different application, not a CNC which it seems like it would work fine for.
So, turns out I will not be able to hold a specific rpm regardless of load. I don't fully understand it but it has something to do with the fact that this spindle motor is an induction motor and is self commutating. Looks like if you want to be able to control RPM directly you will need a motor with an encoder/sensor. I believe that while this system for most purposes seems to be constant speed, it is actually constant power or possibly constant torque. While spinning at 7k rpm i can slow the spindle down to around 5000-5500 with my fingers (not recommended!).
Thanks for everyone's help in this forum though. I would not have gotten this far without your comments. You guys saved me from most of the headaches from this VFD.