I just got an F1 also and have the same situation. In Digital Machinist magazine there is a 4 part series bout converting an F1....I only have the 4th installment and that deals with configuring Mach 3 software.
I ordered the previous issues from Village Press Inc this morning.
If you are interested call 800-773-7798 and ask for the circulation person.
I can't say anything about how they convert it or what equipment they use until the back issues get here.