Hey Alan,
I'd be interested in the code you wrote to control the stepper drive.
I bought an Carroll dividing indexer off of eBay some time back, but it had only one plate when it arrived.
I too figured it would be much easier (and possibly more accurate) to use a stepper motor to drive it.
In my case, I went with Yuriy's Toys Touch DRO system for my DRO (still work in progress). This project has been on the back burner since the dividing head didn't have a chuck and has a 6 TPI spindle nose thread.
My thought was to try and develop a code for either an Arduino and/or TI Launchpad to control a stepper motor drive that could be used on an indexer or rotary table.
If it can be interfaced with the Touch DRO App with selectable inputs like indexer/table drive ratio, diameter and number of teeth, or degrees for arc cutting, this should make cutting arcs, circles, and gear teeth a breeze.