I've been working on this kind of stuff for upgrading my router lately as well. I've been shooting for much higher speeds (~1000ipm) and higher accelerations (1g on the Z axes using ball screws, the x and y will be more like 70in/s^2 and use rack and pinion drive). So you're looking at 420ipm and 14in/s^2... I'd recommend you try to design so you can cut at 420ipm (or faster) and accelerate at least at 50in/s^2. I'd shoot for rapids of double that speed or higher (so there's no cutting load there - just acceleration and deceleration). If you look up chip load information for common wood products, you will want to at least be able to cut this fast to get proper chip loads on your cutters while spinning them at the full speed of your router.
Additionally, it's not vastly more expensive to get much more power out of a servo system, so why not?
Anyway, whatever final design numbers you end up with, in that range I'd look at a Gecko G320X drive with a brushed dc motor from Keling:
http://www.kelinginc.net/ServoMotors.html
Keling sells the G320X along with encoders.
And
http://www.antekinc.com/lview.php?d[]=1&r=25 for power supplies should get you going, or one of Keling's.
Just to clarify, I haven't actually used these, but I've been looking at them to run my router. I'm going to need more power for my y axis though, so I'm currently trying to get a Fanuc A/C servo off ebay spinning.