There is lots of misinformation about static converters, even for this normally well informed website. Anyone that tells you that the greatest detraction to a static converter is the "2/3 power loss" doesn't understand what a static converter really is.
A store-bought static converter is nothing more than a motor starter! Once the motor is up to speed, the converter disconnects, and the motor is left to run from single-phase power. We all know how bad that is.
Installing balancing capacitors will change this, and store-bought converters can be upgraded to make them balanced converters. Any static converter that has a multi-HP range is not balanced. (However, RPC's will be effective over a range.)
As was mentioned, for the low cost of small VFDs, static converters are not a good choice, even if you upgrade them to a Balanced Static Converter.