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What do you want your machine to do/cut?
I doubt you could do milling/routing, you might be able to stick a pen in "Z-axis" for maybe drawing/pattern designs.
If you tried to use a router with a router bit, I'm sure it would rack "Y-axis" (side load).
Plus If your (X') wasn't supported to the rail/table on both sides of the rail, It would lift (X') off the rail/table, when the "Z-axis" (Router bit) was forced into the part you would be cutting.
Again, I think about all you could do is drawing/pattern designs, with a setup like your suggesting, maybe a spring loaded pen in "Z-axis"
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