midas 1220 xl CNC conversion?

[RP Designs]

I have a Midas 1220XL that I have had for about 10 years now that needs the lathe seals replaced. I am thinking about doing a low cost CNC conversion for the lathe portion of the machine and stripping the mill head (have a full size CNC mill). What I am looking at is the practicality of a low dollar conversion to automate the basic functions and speed up the work a bit (and improve accuracy). I am not looking for a lot of advanced function just basic lathe function and threading. Anyone done this and willing to offer suggestions or feedback?

[chumbucket]

I am also interested in this conversion. Anyone?