Well I bought a head and seat machine

The 2hp rotary you have will run it fine while you look for a vfd. Any decent 1 -1.5 HP VFD will handle it. I'd love to recommend on but everything I use is Allen Bradley and fairly expensive for a home shop. Make sure you get one with a brake resistor if you want to slow the spindle quickly. Don't forget single phase input. You can run vfd's off the rotary, but some of them don't tolerate imbalance between the phase legs too well, or at least that used to be a problem.