I did one of those that I own about 8 years ago. My original boss 5 controls took a crap and I wasn't going to fix it to keep drip feeding it lines of code so I decided to upgrade the controls also. I did mine on the cheap and reused the transformer, Reused some of the large capacitors and ran the voltage thru a rectifier and fed 3 leadshine DM870's. Went with the original motors also. Reused the original controls on front for some functions and mach 3 for others. I got rid of the varidisc drives and went with timing pulleys and a cog belt. Also a hyungyang 3hp single phase 240 input to 3 ph output to power the motor with a large braking resistor for speed changes and stopping the drive. Its all 240 single phase, even the pc running mach 3 so I can plug it in about anywhere. If I had to do it over again I would go with Leadshine DM2282's. I use them on my plasma table and they work great without a large transformer, more compact in the cabinet. Different, more powerful motors would be better also. The originals are about 800 oz in, but 1600 would be better. I can overspeed te originals and lose steps if the rapids are too fast. I would also try mach 4, the mpg pendant I got doesn't work very well with mach 3. The lag time between cranking the mpg and response from the stepper is terrible. Makes it really hard to manually machine anything with the mpg. Setting up the parallel port with the pc was a big challenge for me, I'm fairly decent with computers but some pc's don't work well with mach. Depending on the spindle, tooling might be hard to find. I have kwik switch 200 and have had to scrounge for tooling over the years, Erickson sounds worse to find.