Here's the link to several different 3 ph IronHorse motors:
https://goo.gl/GcqUPa The 1.5 hp is $147 or $181 shipped, depending on 1800 or 3600 rpm choice. "IF" you decide to get 220 vac in shop and run a $62 Chinese VFD until it goes bad, do remember to put filters over air inlet or VFD in box. Most likely it will last several years that way, or the NEMA 1 VFD drives I've got have.
I'll have to check out that Forged in Fire episode last night. I usually watch the recorded version so I can fast forward thru commercials.
Good luck - oh, and no contest, VFD only for a 2X72 grinder. I used a 3 pulley setup for a couple of years thinking that was all that was needed, then went to VFD - boy, you'll never regret the extra cost.