Here are my thoughts on the stepper/servo debate.
Steppers remain king in the hobby world because they are cheap and easy to apply. Their moderate speeds suit us hobbyists who will likely crash a machine moving 1000+ ipm (at least i would
).
However, servos are truly better in every aspect except for price. And when I say servos, I am talking specifically about modern AC servo motors. They maintain a fairly flat torque curve out to their rated speed and have a peak output of somewhere around 300% of the rates torque. What this means for you is that you only need a servo that produces a rated torque of 1/2 or 1/3 of the size of stepper you would buy. I would aim for the 200-400W range of servo for a mini mill to a bench top mill or lathe, and 750W for a machine the size of a tormach, however you can push that in either direction.
There are DC fed drives for AC servos (Look at the DMM technology DYN2 drive) but a vast majority are fed from the AC line. Expect single phase input up to 2kW and 3 phase input after that. I’ve used the DYN2 before and was quite happy with it. Not too if the line, but the price can’t be beat. Remember you need a beefy DC supply to feed them at at least 60VDC.
I personally would stay away from DC servos unless you want an electronics project. Closed loop steppers sound like a nice mid point but I’ve never tried them. They cost nearly as much as a low end AC servo.