Mori Seiki spindle chiller replacement

I have a 1982 MV-45 mill with a built in cooling system in the headstock to maintain spindle temp. The sealed compressor that cools the oil has started making a lot of noise/running hot to the touch. It looks just like a refrigerator pump, but it's 3 phase powered. I haven't tried to find the exact replacement, but my guess is it's expensive or long obsolete.

Anyone ever retrofit one of these units with a newer compressor? I'm thinking about trying a new single phase one just because the machine runs on a phase converter so a single phase unit will actually have good power to operate.

Good/bad idea?