Ed, The VFD you linked is a good VFD with NEMA 4X housing - much more suitable for a grinder than the Teco linked by OP. I've used the Teco NEMA 1 enclosure VFD for a couple of years now with a 1 hp lathe with good success. Easy to setup (but I've worked with VFD drives in chemical plants) and does a GREAT trouble free job on the lathe. For a grinder I "might" use it myself (with dust protection), BUT be very hesitant to recommend to others as a grinder VFD due to the NEMA 1 enclosure used which would allow metal to enter the fragile electronics - that really could (will) cause problems. NEMA 4X is really needed as a grinder VFD, unless GOOD dust protection is provided for the NEMA 1 enclosure.
If a dust protective enclosure is used for the Teco VFD, it should be just fine, - then the cost will be very similar to the KBAC recommended by Ed.
BUT!!! Ed has the experience to know what is best - his grinders are used every day, with more hrs/day than my grinder gets in a month! That does make a BIG difference.
Listen to Ed.
Ken H>