i have nm200 on order and will be able to answer a small portion of your question based on my experience in ordering. 1) machine come with three axis controllers, you will have to upgrade to fourth axis 2)on the hw side, there are two pieces. one is the rotary table/tail end and other piece is jaw/back plate. there used to be more details on Novakon site. Give them a call, Khai is good/easy to work with.
as for sw, Novakon come with vm demo version (not sure if it has 4th axis component). i hear getting the 4th axis on a cad/cam SW is pretty expensive.
for rest of your questions, i will be reading the responses with interest from experts.
and one thing more ... you may have to stretch just a little more