Sir,
Because of the elasticity if the cable, if you use some sort of good position feedback, you should be able to make it work. However this adds some complexity. (and cost)
An alternative would be to use gear rack and pinion- no elasticity, and it is easy to implement. You can buy 6 foot 1/2 x 1/2 gear rack, 20 DP, 20 degree pressure angle from Standard Steel Specialty Co,
www.stdsteel.com/gear.htm
Cost is about $23 each in qty = (2). For a drive pinion, you should have at least 18 teeth with more teeth desireable. You will have no trouble with rapid traverse either!
Regards,
Jack C.