I have one of these to run my 3 phase mlling machine off of my 220 single phase shop wiring..... Simple to wire and works perfectly.
Mine is the 1-3 hp model like shown in this link, but they offer one size smaller for up to 1 hp motors.
Here it is on the Phoenix website, but they sell them on ebay also for a bit cheaper with free shipping which is how I bought mine a couple years ago.
1 HP to 3 HP Static Phase Converter
If your motor is 1hp or under, you should probably get this one for $59 on ebay w/ free shipping.
Phase Converter 1/ 4HP to 1 HP STATIC new - eBay (item 310204313077 end time Apr-01-10 17:39:51 PDT)
Rotary phase converters or VFD's work great also, but for a simple motor with no complex electronics or computers, the static units that I linked to work just fine. IOW, the static converter works fine for my simple mill, but would probably not work properly on my CNC mill. When I get around to getting it going, I will probably have to get a rotary phase converter.