3 Phase Power

I've been thinking about 3 phase power for the shop today. Last night I saw a nice 3 phase plasma cutter on Craigslist, but like most normal people I don't have three phase power in the shop. As it is going to be a while before I get back to the electric car project, I've been thinking I can use the inverter to make a phase converter. It will basically be a variable frequency drive with a single phase input and a fixed 60 hz output. I think I have everything I need except a couple of contactors, relays to get from the sanguino output to the coil input on the contactors, and some power resistors to use as precharge load. More thoughts to follow.