Need Help!- Old CnC whit AC motors

[i_spyder]

Hello Everyone.
I started getting interested in cnc machines some time ago,now i decided to build my own, but other day i spoke whit my cousin and he told me that he got one on his basement that he buyed 13years ago,he gave it to me since it was getting dust and rust.
So i disassembled it polished the essencial parts, lubed, cleaned everything.
Everything is working great the only problem is the motor controller that is really old is all relay based. It has 2 Globe 1 phase AC motors 115Vac 20rpm ratio 180:1 and one Ledex that is the one from Z axis that only have 2 wires.

The main use for the machine will be pbp milling and drilling.
What you guys think, it worths try to make a controller for the 2 Globes and the ledex. Or Should i replace all of them whit nema23 steppers and make a controller like this one http://pminmo.com/3axis/3axis.htm.

Would like to ear some more opinions before was 220Euros on material.
Pictures of Everything on http://luisjet.com/CNC/
Thanks for your time