+1 on what Jim said about a stepper driven system. For reference my conversion cost about $2,000, not including the price of the mill. Your cost should be a bit lower as I have a NEMA 42 4200 oz. in. motor and driver on the Z axis. Properly set up a stepper system will produce very accurate parts. You just need to realize you are converting a hobby manual mill into a hobby CNC mill. Adding CNC components doesn't make it more accurate.
Good luck with your project and keep asking questions. We are here to help.
Tom S.
Good luck with your project and keep asking questions. We are here to help.
Tom S.