I would say you are going to get some error and will vary with speed/feedrate being used.
I have retrofitted machines like the old Cincinatti horiz. mills that had point to point motion and the screws were driven by hydraulic motors, but this system had an anticipation feature so that the motors would slow down when the desired position point was reached. There was no servoing action and it is fairly crude.
You could use common analogue input servo drives and set the feedrate by pot. the signal would pick up the servo brake and enable the drive at the same time. But you should not expect any really precise machining. Things like face milling and through milling where you clear the part at each end would probabally be OK.