Newton Tesla ( http://www.newton-tesla.co.uk/ ) are a very good company to deal with, I had a VFD off of them many years ago that I use to run my wood lathe and it's taken a lot of abuse without a problem. They were very helpful with phone support when I installed it.
I have also bought one of those chinese VFD's recently that are on ebay at the moment, I followed your school of thought and have a 2.2kw one running my drill press which is of course complete overkill. It hasn't blown up yet however I personally would get something from Newton Tesla if the application is running something that I couldn't be without, if my drill press one blows up I can swap it out for one off of a different tool to get me out of trouble