Really nice build...I would not recommend going single phase though! These machines were built to run 3 phase..that head takes some moving...!
By the way hang onto the spindle motor and drive if you can..you have around $10,000 of high quality Fanuc gear there. You would have to spend some serious money to get anything that worked better!
My advice for what it is worth would be to buy a Galil card and some mitsubishi drives/motors off Ebay and stick with the fanuc spindle motor/drive combo.
It looks like a low hours machine...well worth spending on
Just my humble opinion... looking forward to seeing it finished
John.