With that vfd I would still need a deferent motor, or would that work on the one I have?
You would need a three phase motor to hook the vfd to, a single phase motor would not work.
As far as DC, If you found the correct size and spec motor to fit, you can get a dc speed controller for 170
http://www.surpluscenter.com/item.asp?item=11-2102
I run my disc grinder/ buffer combo on the above controller and it works fine.