Oh yeah, better than the converter, absolutely. The converter's a bad idea, though, so I wouldn't compare with that. My concern was "high speed" and "few rpm". For example, if there's a load upset, is he going to be happy if after correction, the speed lands within his few rpm window of setpoint, or is he looking for stiff enough response that it never leaves the window in the first place?
In fact, a lot of VFDs will allow you (often with an option card) to input an encoder directly to optimize speed regulation over just using back EMF as a feedback mechanism. Having done that, you can often also tune the velocity control PID in the drive for more stiffness, if that's what you need, and still eliminate a bunch of feedback and control signal conversion latency.
As I said, I think a lot depends on him defining the terms and criteria in more detail.