Servo motor question

Hi group,

I'm trying to do this for the first time, I'm planning to change the old
Fanuc controller on a German lathe, with a new one.
Servo motors are Siemens with the following specs:
- Dc Servo, permenant magnet.
- 1.03 KW
- 2000 RPM
- 176 V
- 7.1 A
- Max. torque 5 Nm
With an optical encoder, +5v and 1024 count/turn.

I was thinking of using Turbocnc with Gecko drivers.

Will this setup work?
What is the required DC supply I need to build?
Which Geckos to use G320 or G340, and what is the differnce between them.

Any help is deeply appreciated.

Mina F.