Bob,
Idiot, NO and as a matter of fact, I have seen a couple of good installations like that and a couple that I think are less desirable.
1. BUILD LOG: King Midas mill conversion is one way to do this type of mill in a manner that you suggest.
2. I thought I had another site bookmarked and the author was Jeff ?? and he was selling plans and parts also. As I remember, it was Home Shop or something like that. He gutted the existing system and put a rotating ball nut and servo up in the cavity of the head. Very neat installation.
3. I did mine by tightening up the clearances on the pinion and the worm wheel of the fine downfeed and get minimal backlash.
I have seen some others, but from an engineering point think they move the ball screw out to far and use to flimsy a bracket. This increased leverage looks to me to provide flexibility and poor accuracy.
Whatever you do, you can make this into a very capable machine if you live within the limits of rigidity.


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I am right now in the process of converting a round column mill to CNC. I think it willwork just fine. I have the X and Y axis working now and have the quill feed (Z axis) designed. I am putting together a list of parts to order for that part of it now. My plan is to have a ball screw vertical in the front of the head as close to the head as possible. Then there will be a plate that clamps on the lower part of the outer quill that extends forward to where the screw is. There will have to be a tube from that plate extending upward for the ball nut to mount to. This is so the screw doesn't project below the quill nose. This will be driven by a stepper/ belt drive system. 
