After much painful thought, I've decided to throw in the towel on front mounting the VFD. I'll temporarily mount it on the front while I set it up and then move it to the back outside of the control box where it's hard to get at. There just isn't a place up front where I can put it permanently and I'm not buying another VFD just for the removable control keypad. I'll add a simple swarf shield out back to keep it from ingesting swarf, accept having to crawl behind my lathe to re-program the VFD when I need to, and get on with this project.
I'm reminded of what a CEO of my previous employer said to me once. "There comes a time in every project when it is time to shoot all the engineers and get on with building the product." He was right, but I think a little too aggressive and we paid dearly for that at times.
Anyway, I've procrastinated a decision on this project for way too long and I need to get on with the VFD 3phase motor conversion.