I'm new as well and doing just what you want. Upgraded the motors to 2hp and 1 vfd. They operate independant, so I have a switch that powers some three phase relays. This allows switching from mill to lathe mode. Each spindle has an optical pulse index on it to cordinate rpms for threading and tapping. The VFD unit controls rpm 1-motor max. Be prepared to spend about $2000.00 for this type of conversion. + if you don't have
CNC steppers/controllers/drivers/.... plan on another $1000-1500. All in all, your going to be spending upwards of $3000.00 to make this all happen. In the end you have a very capable machine.
Time wise.... I'd plan on a good 40 hours of your time to convert, install, and calibrate. I'm still not completely done yet because I'm converting to gates poly belts (looks like a timing belt in your car), so additional adapters and bearings have to be made.
On your bracket thing. I'm not quite clear, but it sounds like you have a "quadralift" or something similar. They really are pretty stout. As far as re-inforcement, I doubt you need much. I'm trying to figure this one out too. So far as I can guess, to re-inforce the mill head for a more rigid mount you need more weight. It's a matter of physics. More wieght equals more energy to get momentum. I could be wrong. I've been playing with the idea of adding additional dynamic weight to the mill head via water containers or lead.
Hope that made some sense. Good luck.