This is going to be an advanced project and may take more investment in time than you want to put in
Think about it- what are you planning to use this machine for?
I understand the advise and thoughts on putting time and money into this lathe.d, can you achieve what you want without going down this rabbit hole.
I do think it will be able to do what I what with it ( learning basic machining, learning cnc machining, turning small parts for a couple hobbies of mine)
The lathe was $100, Acorn control board $350, stepper drivers $60, will use the free software for a bit then upgrade lathe software $175.
The original stepper motors work and plan on using them for now. So $500 so far, about $700 including the upgrade lathe software.
That doesn't seem like a ton of money these days. If I can't figure out how to integrate the existing speed controller, I can just manually adjust the speed and direction and not go through Acorn.