Power supply options

I have a variable speed DC power supply for a DC brush motor. It
takes 110AC 10A and outputs 0-130V DC 8Amps. Can this be used as a
variable voltage supply to power stepper motors? I like the voltage
adjustability and ability to go to the 40-60 volt range. I found
these DC motor speed controlers in a surplus catalog and they are
only about $30.
Please let me know if I am all wet or missing a bigger piece of the
picture.

Thanks
Scott