That may be the way to go, but I tend to agree with Mike Graetz's comment, in the following issue's comment section. If you must go with 3 phase, the method outlined in the "Editor's Note" below is a better way to go. It eliminates the single phase starter motor in favour of starter capacitors and reduces the size of the idler to more closely match the rest of your 3 phase motors. This increases the efficiency of the conversion, but you still won't be using less power than running a single phase motor. How ever there are still many benefits to three phase. Used three phase machines are often cheaper to purchase, and three phase motors are of simpler construction and easier to reverse, just switch any two leads.
I have lots of articles and plans on 3 phase conversion, but I have ruled it out long time ago. Most woodworking machines are easy to convert to single phase. My General band saw and Delta/Rockwell lathe were three phase so adding single phase motors was just part of the rebuild. I have passed on some three phase machine shop machines, but I think the weight of all that iron had something to do with it too.
"Boom" Workshop Grenade
In the same issue was an article reviewing jointer-planers by James A. Rome. In the article he relates the following mishap that he had in his shop. Fortunately he didn't get hurt, just scared, and I doubt he was easily distracted when working in the shop after this incident. The cutter head guard deflected the pieces of shrapnel, but the comparison to a grenade going off, is not far.