Something Old, Something New..Upgrading An Old CNC Millrite

Sometimes the Gods smile upon a person...I was just given a old CNC
Millrite. ;<)

So now I (or perhaps I should say my son) has a summer "project" to
upgrade this Millrite from its old numerical controls to use the
current technology.

The mill has Acme screws on the X and Y axises.

The X and Y axises and the quill are equipped with servo motors that
I will want to reuse in the updated electronics conversion.

I do have the old numerical control electronics that were used to
originally power the servos but will likely not reuse it except for
the cabinet.

The spindle is powered by a three phase 1Hp motor.

So if this was YOUR machine, how would you go about updating it?

What hardware, software, what companies would you go with?

I will also add that I searched the entire archives without finding
anything like this that has been done before so any contributions
that you might add will provide guidance for those who are looking
for insight in the future....and help me alot. ;<)

Thanks for any contributions that you can add.

TMT