I have an air compressor rated 230/460. I only have available 3phase 4 wire 120/208. Can I use a 2 pole breaker and get 208, and then use a boost transformer to reach 230, or will the compressor operate effeceintly enough with 208 using the 5% rule for operating voltages?

Clarify the rating of air compressor(230/460). If in delta connection it is suitable for 220V 3ph give 220V 3ph and run it.

This rating of voltage (230V / 460V) 3ph for 60Hz power supply.
Delta connection for 230V & star connection for 460V.