Three phase electrons

["Dunst, Mordecai" <mdunst@smtplink.coh.org>]

     Can someone give me a simple clear explanation of 3phase electricity?
      
     Also, on the same subject - I have a 1hp 3P motor on a machine.  I 
     bought a phase converter(non-rotary) to run it from standard 230V/1P.
     How efficient are these units?  Would they allow the motor to run at
     specified rating? or some fraction thereof? 
     
     I think my electric bill goes UP everytime I power up the machine.
     
     Mordy