Based　on　the　viewpoint　of　the　equilibrium　of　the　energy　conversion,　this　paper　analyzed　roundly　the　effect　of　Xd,　Xq　and　the　saliency　ratio　K　on　the　performance　of　the　reluctance　machine　and　discussed　the　problem　of　choosing　the　appropriate　saliency　ratio　K.　It　is　pointed　out　that　in　the　small　rated　power　level　the　synchronous　reluctance　machine　whose　power　factor　cosφ　is　less　than　0.85　can　be　competitive　with　the　induction　machine　in　the　drive　applications.