I'm not sure, but I think you are talking about a wound-rotor motor with the rotor slip rings connected to conductors in a saline-water tank. The conductors are lowered into the tank to decrease the secondary resistance and speed up the motor. If this is true, the main difference (besides the fact that the tank method is REALLY obsolete) is that the VFD, with the proper motor, can run at practically any speed (typically down to 50% of rating) for any length of time, can be programmed to run based on the load, the current, or other parameters. VFDs are also much smaller and more dependable. Don't you have to keep adjusting the water and the position of the conductors in the tank? There are several other options for a wound-rotor motor which are newer than the tank and which do not require a VFD, the 'static-stepless' control among them.