Hi,
AC line input stepper drivers are well known and have been used extensively in the past. They all rely on a rectifier/capacitor input filter
followed by a buck regulator. The buck regulator adds cost and potential reliability issues and has, in the past, been restricted to
high value systems.
I use Vexta 5 phase steppers from a Japanese company, Oriental Motor Co., good quality but pricey. They have an extensive range
of 110VAC and 230VAC line input stepper drivers. I have three 230VAC input types. You are correct that you don't have to mess around
with another costly powersupply, but the real adavntage is that the regulated DC ouptput (of the buck reg) is about 150VDC. That means
the stepper driver proper has a 150VDC power supply, and my steppers SING. I commonly run them at 2400 rpm but they are still
quite happy at 3000rpm!.
As the price of high reliability power electronic parts has come down their use in AC line input devices has gone up.
Craig