Mazak Quickturn 10 x2 retrofit ideas!

Hi All, 
I've started to build a retrofit system for a Cincinnati Sabre 500 milling machine, however now I've come across a more urgent job where I'd need to reasonably quickly convert one of my Mazak QT10 lathes, Both are known to have faults, I planned to repair them using the original Mazatrol T1 controllers, however the original parameter information and documents are missing from the machines. I have contacted the previous owner, despite his best efforts, he had decided to scrap the machines a week before I contacted him, and put the old manuals in the fire pit as he couldn't sell the machines. 
one machine has a tail stock, one doesn't. Both run ATC turrets 
unlucky for me! (I have an electronics engineer who would have helped repair the machines hardware faults) 
I'm now in the position, of what's going to be the quickest way to get them running,  
options -
1. Fit resolvers to the axis motors and run a Mesa board type setup - lots of custom config and wiring. (I see someone on here has done this on a Mazak before, a micro15, seemed very in depth to get it working) Seems controlling the original spindle wasn't to hard.
2. Fit 2 x new step/direction type servo motors and control it with a Pico systems step/direction controller. Jon has been very helpful with the setup on the milling machine to date.
3. Open to ideas! - the easier the better, I'm very electrically inclined but I'm a mechanic not an engineer

I have built a retrofit cnc controller previously for a stepper motor CNC router using UCCNC, I'm looking to have closed loop feedback on this machine if possible.
I appreciate any help anyone can give towards this subject! 

Thank you Tommylight,
I read that post last night! very interesting build you've done!
Looking back, would it have been worth changing to step/direction digital servos or worth the effort involved with the analogue gear?
Was the VFD hard to integrate into linux with the MESA system? I'm looking at using Pico systems, as they might have a converter for the resolvers.