Closed loop vector drives.....

Group,

I'm looking for some first-hand experiences with closed-loop vector
drives/motors. Can I expect servo motor accuracy in positioning?

Hopefully, by putting a vector drive/motor on my lathe I can have
precision spindle positioning for operations like cross drilling,
flat milling, etc.

Today I scrounged a new-in-box 3hp Baldor vector motor complete with
1024 line encoder and cooling fan. Now I need a Baldor or
compatible vector drive and associated closed-loop cabling. Anyone
know of good sources? A search pointed to a few Baldor dealers and
information about Baldor drives. The Baldor drives that were listed
with prices are fairly expensive, if these drives need to be derated
50% for single phase input then it looks like the one I need has a
list of around $1800. What's the usual discount from list price for
Baldor?

Any experiences with closed loop vector drives will be appreciated.

thanks,

Doug