Since I first read about the ML7, I have thought they seemed like a great lathe. I don't have any suggestions except, were I going to CNC a ML7, I would feel compelled to use quality components. If it is in good condition, it should make a good small lathe platform.
What is the condition of the ML7? What is its resale value? Have you considered selling it and buying a different lathe to CNC? If the ML7 is as valuable over there as they are over here, you might get enough out of the ML7 to cover the cost of the new lathe and cnc conversion pieces.