these guys have the right idea.
You may want to look into some simple PIC microcontroller programming. Many pic micros can handle encoder inputs and you could program it to do most anything you wanted. The display would be fairly straight forward as described in the thread below. Stopping at the commanded angle would be a lot more complex using discrete components. Someone with some pic programming experience could probably knock this out in an hour or so. I have just started getting into pic chips and I can think of how it would be not but I'm not sure if I have the experience to actually do it. If you're interested in diving into something like this I would be interested in helping out as I plan to eventually make a bender to fuel my jeep projects.
digital readout for bender...