Most residential three phase installations do not involve three hots and a neutral. Open delta is the common configuration and there is usually not a true neutral, just two energized conductors and a static line (distribution systems generally derive neutrals).
VFD's are a good option as you usually can avoid the meter charges associated with a second service and the BS from the building inspectors unless you convert your existing to 3 phase. You get the added bonus of speed control and motor protection.
Might not be worth the cost for a hobbiest or someone with a limited amount of equipment. The utilities I am familiar with have tariffs that take into account the cost of the installation and the expected usage over a few years so if your usage is hig and the distance needed to power you up is short it might not coast much to have the utility provide it.